Client margin up 7% at Bank of America’s swaps unit
Aggregate required client margin across all FCMs at highest point since second quarter of 2020
Required client margin held by Bank of America’s swaps clearing unit jumped by $901 million (7%) in the month of October – the biggest increase of the 15 reporting futures commission merchants (FCMs).
Data from the Commodity Futures Trading Commission (CFTC) shows the US bank held $13.2 billion of required margin from clients to cover their swap trades, the highest level on record.
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Barclays posted the second-largest quarterly increase, with required margin up $463 million (4%) to $12
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