OECD debt offices call for derivatives collateral debate


A new report from the Organisation for Economic Co-operation and Development (OECD) calls on debt offices to review their policy on the collateralisation and clearing of derivatives trades – a touchy subject that many sovereigns either dismiss entirely or refuse to discuss publicly, despite consistent pressure from dealers. "I'm surprised by this report," says the head of one European bank's sovereign, supranational and agencies (SSA) desk. "The OECD has clearly gone to a tremendous eff