Cleared portfolios surge at EU G-Sibs

Systemic banks post highest share of cleared trades in seven years, as IM phases five and six approach

Cleared trades grew as a share of systemic eurozone banks’ over-the-counter derivatives portfolios throughout 2020, data from the European Banking Authority (EBA) shows.

The bloc’s eight global systemically important banks (G-Sibs) held €102.1 trillion ($120 trillion) of OTC derivatives notionals at the end of last year, 60.5% of which were cleared. This compares with €55.4 trillion, or 56.1%, a year prior.

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It is the highest aggregate rate of cleared trades for the group since