Collateralisation jumps by a fifth - Isda margin survey

Corporates lag other participants; less than a third collateralising

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Collateral usage grew rapidly last year

The proportion of uncleared swaps backed by bilateral margin payments jumped by a fifth last year, with 90% of all these trades now subject to a collateral agreement, according to the International Swaps and Derivatives Association's annual margin survey, which was published yesterday. This year's 61 respondents – the vast majority of them banks or broker-dealers – said that, as of the end of 2013, 87% of their uncleared over-the-counter derivatives trades were backed by a version