Goldman May Get Up To 35% Of Revenue From Derivatives

Goldman Sachs GS, the largest U.S. investment bank, may get 25% to 35% of its revenue from derivatives. Goldman provided that information to the Financial Crisis Inquiry Commission after exeuctives previously said they weren't sure what portion of the firm's revenue came from derivatives. Based on the firm’s 2009 revenue of $45.2 billion, the estimate means derivatives may have provided $11.3 billion to $15.8 billion of revenue last year, according to Bloomberg News. As of March 31, Goldman held a gross total of $49.1 trillion in derivatives contracts, according to the the Office of the Comptroller of the Currency. OCC says Goldman and four other U.S. banks hold 97% derivatives contracts owned by U.S. banks. Goldman is the fifth-largest U.S. bank by assets.