The magnetospheric banana current

It is shown that the banana current, a current system in the inner magnetosphere closing entirely within the magnetosphere (i.e., not through the ionosphere or on the magnetopause) but not circumflowing around the Earth, is a regular feature of near‐Earth space. Closure options for the eastward asymmetric current on the inside of a localized pressure peak were explored, with the conclusion that the current must close via westward current around the outside of the high pressure region. It is a current that encircles a pressure peak and, therefore, whenever there is a pressure peak in the inner magnetosphere, a banana current exists. If multiple pressure peaks exist in the inner magnetosphere, then multiple banana currents will also coexist. Its occurrence rate is equal to that of the partial ring current, defined here as westward magnetospheric current that closes through field‐aligned currents into and out of the ionosphere. Its magnitude can reach a few mega‐amps during the main phase of storms, but drops to