JSCC turns to cash in rejig of liquidity reserve

The Japan Securities Clearing Corporation (JSCC) deposited more cash with central banks and withdrew from the repo market in the second quarter.

The central counterparty (CPP) disclosed ¥132.9 billion ($1.25 billion) in central bank balances, up from ¥80 billion in the prior quarter – a 66% increase. A year ago, the CCP did not have a single yen of its liquidity reserve stashed with central banks. Unsecured cash deposited with commercial banks also rose, by ¥5.7 billion (19%) to ¥35.2 billion.

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