FR 3036

Central Bank Survey of Foreign Exchange and Derivatives Market Activity

Description: The FR 3036 survey consists of a Turnover section and a section on Derivatives Outstandings. The Turnover section requests information on the monthly volume of transactions (turnover) in the foreign exchange cash market, the foreign exchange derivatives market, and the interest rate derivatives markets. The Derivatives Outstandings section requests data on outstanding contracts in the derivatives markets for foreign exchange, interest rates, equities, and commodities.

OMB: 7100-0285

Purpose: The data provide information about the size and structure of foreign exchange and financial derivatives markets that is useful for public policy related to financial markets. Also, the data provide the Manager of the System Open Market Account with information useful in conducting the Federal Reserve's and the U.S. Department of the Treasury's responsibilities related to the foreign exchange markets. Aggregate market statistics from the survey also are of interest to market participants and the general public. The Derivatives Outstandings section of the survey is aligned with the Semiannual Report of Derivatives Activity (FR 2436).

Background: Beginning informally in the 1960s in New York, the survey has evolved into a global market survey conducted simultaneously by the participating central banks. The global nature of the foreign exchange and financial derivatives markets, where many participants operate around the world, requires the global collection of an identical core of data to assess the size and structure of these markets.

Respondent Panel: The reporting panel consists of financial institutions that serve as intermediaries in the wholesale foreign exchange and derivatives markets. The Turnover section of the survey includes all financial institutions that are significant dealers in the foreign exchange market in the United States; the Derivatives Outstandings section covers a smaller set of firms. Reporting is voluntary.

Frequency: Triennial. The Turnover data include all business days in April, and the Derivatives Outstandings positions are as of the end of June.

Public Release: Market totals from the survey are published in press releases by the Federal Reserve Bank of New York in the summer and fall. The market totals are also provided to the Bank for International Settlements for aggregation and publication of global statistics.

Last Update: March 31, 2016