

LCH SA on the hook for €32bn if member defaults
LCH SA’s estimate of its largest same-day payment obligation should a member default was €32.2 billion ($35 billion) in Q2, the highest since public disclosure began in Q3 2015.
The central counterparty’s projected exposure was 19% greater than in Q1, and 91% larger than the same quarter a year ago.
The actual largest same-day payment demanded from an LCH SA member occurred in Q2 2018, and was €2.12 billion in size. The second-largest was a €2.05 billion obligation paid in Q4 2017, while the
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