UBS takes Sfr4.2bn of client collateral off balance sheet

Accounting change cuts futures clearing leverage exposure

UBS cuts leverage exposure

UBS has cut Sfr4.2 billion ($4.5 billion) of leverage exposure from its futures clearing business by removing client collateral from the balance sheet. Citi announced a similar move in 2014, and other banks are looking to adopt a similar strategy.

"In the fourth quarter of 2014, the group changed its accounting policy with respect to recognising cash initial margin collected and remitted to more closely align with evolving market practices," the bank said in its February 10 fourth quarter

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