IM requirements for interest rate swaps up $30bn in December

Latest figures from CME, Eurex and LCH show a trend reversal from previous six months

Initial margin (IM) requirements for interest rate swaps (IRS) shot up by 10.6% in December 2023, reversing the downward trend that characterised most of the second half of the year.

Aggregate IM required for IRS trades by CME Clearing, Eurex and LCH Ltd across all house and client accounts rose to $309.4 billion at the end of December, up $29.6 billion from a month prior. Customer accounts were responsible for $205.6 billion of the total, an increase of 10.1%, while house accounts made up the

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