US banks diverge from global peers on OTC clearing
Clearing rates fall in US as UK, Europe and Canada push higher
The largest US banks leaned further into bilaterally settled over-the-counter derivatives at the end of 2024, as their aggregate clearing rate fell to a record low of 48.3%, diverging from the continued shift towards central clearing reported by their UK, European and Canadian peers.
Among the eight US global systemically important banks (G-Sibs), five reported a decline in the share of OTC
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