US megabanks lead push for agency clearing at European CCPs

Clearing through agency model would cut US lenders’ G-Sib capital surcharges

European and US co-operation
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A group of banks led by large US lenders is in talks with European central counterparties (CCPs) to persuade them to set up agency clearing models, which would slash capital charges applying to global systemically important banks, or G-Sibs.

The push is in its early stages, according to bank and clearing house sources close to the matter. understands that the banks involved are focusing their efforts on Eurex, Ice and LCH’s SwapClear and CDSClear, but will likely want as many other UK

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