Margin calls on insurers, pension funds stoked MMF rout – ECB
Dutch firms accounted for huge share of VM payments in March
Insurers and pension providers in the eurozone likely exacerbated the run on the region’s money market funds (MMFs) in March, as they withdrew cash en masse to cover huge margin calls on derivatives triggered by Covid-induced volatility.
Researchers at the European Central Bank (ECB) found a strong correlation between MMF inflows and outflows and the variation margin (VM) payments made to and
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