OECD debt offices call for derivatives collateral debate
New report calls for debt offices to weigh the pros and cons of two-way collateral and clearing
A new report from the Organisation for Economic Co-operation and Development (OECD) calls on debt offices to review their policy on the collateralisation and clearing of derivatives trades – a touchy subject that many sovereigns either dismiss entirely or refuse to discuss publicly, despite consistent pressure from dealers.
"I'm surprised by this report," says the head of one European bank's sovereign, supranational and agencies (SSA) desk. "The OECD has clearly gone to a tremendous effort. It
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