Tri-party repo and collateral businesses feather BNY Mellon’s earnings

Custody bank BNY Mellon made $293 million in Q3 through its tri-party repo clearing and collateral management business, 11% more than a year ago, as clients rushed to source securities to satisfy non-cleared margin rules and absorb a glut of US Treasuries.

The bank’s finance chief, Michael Santomassimo, said the revenue hike was not caused by the surge in repo rates that roiled markets in September but from onboarding new clients and growing activity from existing customers.

The clearance and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: