Peak IM calls at FICC leapt 13% in Q4

Number of margin breaches at the central counterparty’s GSD also edged higher, as some members increase exposures after margin calculations

The government securities division (GSD) of the Fixed Income Clearing Corporation demanded $3.4 billion in initial margin (IM) from its members on one day in the last quarter of 2021 – 13% higher than in Q3.

Required IM held at GSD at end-December was $20.4 billion, up almost 6% on Q3.

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