JP Morgan exec questions bond collateral double standard
Isda AGM: CME applies 20% margin haircut for corporate debt while LCR hits banks with 50% cut
The head of JP Morgan's clearing business has questioned an apparent double standard that means banks have to apply a haircut of up to 50% when holding corporate bonds for liquidity purposes, while CME Group is able to apply a 20% haircut to bonds posted as margin.
Emily Portney, global head of clearing and collateral management at JP Morgan Securities, argued both banks and clearing houses are
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Risk management
CROs urged to use ‘creative’ stress tests for interconnected risks
Risk Live Asia: AI, cyber security and geopolitics mean faster shock transmission across risk types
Trading platforms evolve for a cross-asset market
As trading becomes increasingly cross-asset, platforms are evolving to deliver consistent workflows, connectivity, intelligence and end-to-end execution efficiency
Industry pushes EU exchanges to solve equity post-trade frictions
Deutsche Bank, Goldman Sachs and JP Morgan join calls for mandatory cash CCP interoperability
US Treasury clearing: competition, choice and readiness move to the fore
US Treasury clearing mandates and market reforms are reshaping clearing models, risk transfer and market infrastructure ahead of key implementation milestones
Barclays built a system to spot AI agents that might go rogue
Research setup ‘reads the mind’ of LLM-based agents and flags if they’re about to do something risky
Op risk data: EFG takes a bath for two decades of money laundering
Also: Deepfake voice clone cons Intesa division; key couple of cryptocurrency hacks. Data by ORX News
Managing risk to accelerate agentic AI value creation
Banks can accelerate agentic AI adoption by aligning each use case’s risks, controls and capabilities, enabling safe, accountable and value-driven deployment
One legal entity. Multiple IDs. Three business risks.
How fragmented entity IDs undermine risk, compliance and revenue decisions
