More sovereigns edge towards two-way CSAs - and clearing

Towards two-way CSAs

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On the face of it, dealers have had little success persuading sovereign derivatives users to sign two-way collateral agreements. The Cypriot, Danish and Latvian debt offices all say they are considering it – which would bring them in line with their counterparts in Hungary, Ireland, Portugal and Sweden. But of that group, only Portugal and Ireland made the switch in the past two years, and the world’s biggest sovereigns remain staunchly opposed to the practice – a policy that leaves their dealer

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