JSCC member default fund contributions fall to ¥676bn in Q2
Default fund contributions shrink 19%, but members’ initial margin payments climb
Clearing members of the Japan Securities Clearing Corporation (JSCC) had to put up less cash to the clearing house to cover a possible default in the second quarter. Mandatory contributions to the central counterparty’s (CPP) default fund shrunk to their lowest level since Q3 2017, by 19% to ¥676 billion ($6.36 billion).
Member contributions to the default fund for the CCP’s over-the-counter Japanese government bond clearing service fell 54% to ¥163 billion quarter-on-quarter. Those to the JGB
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