On June 17th, the OCC released its Quarterly Report on Bank Trading and Derivatives Activities. Commercial banks reported trading revenue of $7.4 billion in the first quarter of 2011, 113 percent higher than the fourth quarter of 2010, but 10 percent lower than in the first quarter of 2010. Net current credit exposure, the primary metric the OCC uses to measure credit risk in derivatives activities, declined $23 billion, or 6 percent, to $353 billion. Other credit metrics improved in the first quarter as well. Derivative charge-offs declined 33 percent to $74 million in the first quarter, while past due derivatives fell 22 percent to $42 million. OCC Press Release.