Long option positions, regardless of whether in-the-money or out-of-the-money, are always considered assets. This results in credit risk to the bank.

Short option positions, regardless of whether in-the-money or out-of-the-money, are always considered liabilities. There is no credit risk to the bank.

Forwards can be either assets or liabilities. A long forward where the bank owes the counterparty is a liability to the bank. There is no credit risk to the bank (only to the counterparty).

A short forward position with the counterparty owing the bank is considered an asset to the bank (positive value), resulting in credit risk to the bank.