Canada’s top dealers boost derivatives clearing as FRTB kicks in

BMO, RBC and TD Bank cleared record C$45.1 trillion in notionals in Q1

The share of over-the-counter derivatives cleared through central counterparties (CCPs) at Bank of Montreal (BMO), Royal Bank of Canada (RBC) and TD Bank rose to a year high during the three months to end-January. The increase coincided with Canada’s implementation of the Fundamental Review of the Trading Book, which forced them – and their peers – to revert to standardised market risk-weighting. 

RBC cleared 63.1% of its C$29.15 trillion (US$21.64 trillion) of OTC derivatives, up from 58.2%

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