Notional outstanding volumes in interest rate swaps (IRS) jumped by 31 percent in August 2021 compared to the same month last year, from 7,740 billion EUR to 10,148 billion EUR. Across all instruments, total notional outstanding grew by 7 percent across the same period, from 19,266 billion EUR to 20,612 billion EUR. With respect to average daily cleared volumes, the figure for IRS was up by 96 percent year-on-year in August – growing from 9 billion EUR to 19 billion EUR – while the overall figure showed a small drop of 4 percent, from 72 billion EUR to 69 billion EUR.