BNP Paribas’s default contributions hit record high in H1
Requirements from CCPs up 19% across 13 EU and UK banks
BNP Paribas’s contributions to the default funds of central counterparties (CCPs) swelled 29.1% in the first half of the year to €20.5 billion ($21.7 billion), the highest on record, and the most across 13 European Union and UK clearing banks analysed by Risk Quantum.
The increase derived mostly from unfunded contributions – those contractually committed to a CCP’s default fund in the event of the fund being depleted after a default event – which climbed €3.26 billion, or 30.8%, to €13.8
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