Tariff rout lifts required IM by $51bn
Collateral posted for swaps, futures and CDSs jumped in April, data from top CCPs shows
Required initial margin for cleared interest rate swaps (IRSs), futures and credit default swaps (CDSs) surged by $51.4 billion in April – the biggest monthly increase since March 2022 – amid heightened volatility triggered by triggered by the slate of tariffs unveiled on April 2.
The spike brought total required margin across major clearing houses to a record $766.1 billion, according to data
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