>$80 trillion
That's the NOTIONAL amount, not the actual cash tfr/liability amount.
E.g. A and B agree on an interest rate swap.
A agrees to give B the variable LIBOR rate, while B agrees to pay A a fixed 3%.
But what dollar amounts will be traded?
The actual cash that transfers depends on the NOTIONAL amount, so if the cash amount traded is $1 million, then the NOTIONAL amount is roughly 33 times bigger, or $33.3 million.
That $80 trillion includes all those notional amounts.