Initial margin posted to LCH’s repo service tripled at end-June
Surge in required IM indicates explosion in repo demand
LCH SA’s tri-party repo clearing house, €GCPlus, required users to post initial margin of €2.1 billion ($2.3 billion) in aggregate at the end of the second quarter, the highest amount since public disclosures began in Q3 2015 and 231% more than that posted at end-March.
Required house IM, the amount posted by the service’s 11 bank clearing members to cover their own positions, stood at €601
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