Eurex scrambles to avert Treasury collateral ban on US default

Current policy prevents CCP from selectively excluding eligible collateral

us-treasury-bonds montage

Eurex Clearing has discussed excluding US Treasuries from its eligible collateral pool if the US debt ceiling impasse continues, according to sources at three large banks, and may need to update its policies to avoid a total ban on the instruments.

The US has just over a week to negotiate an increase to the debt ceiling and stave off a technical default, which could see some Treasury securities expire worthless. While this should only affect short-dated instruments posted as margin at clearing

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