SwapClear’s required initial margin up 3% at end-2021

IM held against interest rate positions rose to highest level in a year

Required initial margin (IM) held by SwapClear, LCH’s interest rate swaps clearing service, at end-December rose to £144.5 billion, up 3% from end-September.

The split of required IM was 37% for house accounts, 57% for client gross accounts and 6% for client net accounts. Quarter-on-quarter, house net margin increased 1%, client gross 3% and client net 15%.



SwapClear members also had to meet an aggregate initial margin call of £1.8 billion on the peak day in the last quarter of 2021 –

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 info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

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