Regular Derivatives Market Statistics in Japan at end-December 2025
March 13, 2026
Bank of Japan
Financial Markets Department
The Bank of Japan has released "Regular Derivatives Market Statistics in Japan (end-December 2025)."
The summary of the results is as follows.
1. Notional amounts outstanding of derivatives contracts
The notional amounts outstanding of derivatives contracts by major Japanese financial institutions at end-December 2025 were $93.6 trillion for over-the-counter (OTC) contracts (an increase of 9.3% from end-June 2025), and $4.0 trillion for exchange-traded contracts (an increase of 4.6%).
2. Breakdown of notional amounts outstanding of OTC contracts
(1) By risk factor
The notional amounts outstanding of OTC contracts were $81.9 trillion for single currency interest rate (IR) contracts (an increase of 11.0%), $10.7 trillion for foreign exchange (FX) contracts (an increase of 1.5%), and $0.6 trillion for credit derivatives contracts (a decrease of 30.3%).
(2) By currency
With regard to IR contracts, U.S. dollar-denominated contracts were at $30.7 trillion (an increase of 14.6%), Japanese yen-denominated contracts stood at $28.3 trillion (an increase of 16.5%), and euro-denominated contracts were at $14.5 trillion (a decrease of 9.6%). As for FX contracts, U.S. dollar-denominated contracts were at $4.9 trillion (an increase of 1.4%), Japanese yen-denominated contracts stood at $2.4 trillion (an increase of 4.8%), and euro-denominated contracts were at $1.2 trillion (an increase of 1.6%).
(3) By counterparty
With regard to IR contracts, transactions stood at $6.7 trillion with "reporting dealers" (a decrease of 6.5%), $62.1 trillion with CCPs (an increase of 15.7%), and $10.9 trillion with "other financial institutions (without CCPs)" (a decrease of 0.6%). As for FX contracts, transactions were at $7.3 trillion with "reporting dealers" (an increase of 3.0%), $0.4 trillion with CCPs (a decrease of 5.0%), and $2.0 trillion with "other financial institutions (without CCPs)" (a decrease of 5.1%).
(4) By remaining maturity
With regard to IR contracts, transactions stood at $21.6 trillion with a remaining maturity of "over five years" (a decrease of 0.0%), $28.1 trillion with a remaining maturity of "over one year and up to five years" (an increase of 2.9%), $32.2 trillion with a remaining maturity of "one year or less" (an increase of 29.4%). As for FX contracts, transactions were at $0.9 trillion with a remaining maturity of "over five years" (an increase of 6.9%), $2.6 trillion with a remaining maturity of "over one year and up to five years" (an increase of 5.4%), and $7.2 trillion with a remaining maturity of "one year or less" (a decrease of 0.5%).