Concentrated pullback drags mid-tier EU clearing rates to seven-year low
Few large European dealers drove clearing rates down, while US and UK banks increased reliance on CCPs
Central clearing rates for over-the-counter derivatives among mid-tier European banks fell to their lowest level in at least seven years in 2024, as sharp reductions at a small number of large dealers outweighed higher clearing rates across most of the sector. By contrast, mid-tier banks in both the US and the UK increased their aggregate clearing rates over the same period.
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