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Acceptable Collateral - Ltd

CollateralAcceptable types (Bloomberg Description & Code)Valuation & HaircutPrices TRS Code
Cash 
 Sterling
Euros
US Dollars
Swiss Francs
Japanese Yen
Swedish Krona
Danish Krone
Norwegian Kroner
Nominal Nil 
Performance Bonds 
 Limited range of acceptable issuersNominal Nil to termination date 
Government Securities 
AustriaAustrian Treasury Bill (RATB)

Austrian Government Bond (RAGB)
Nominal2.25%
 
Market2.25% 4 working days-3 years
 3.00% 3-11 years
 4.00% 11+ years


$Bun
BelgiumBelgian Treasury Bill (BGTB)

Belgian Government Bond (BGB)
Nominal2.25%
 
Market2.25% 4 working days-3years
 3.00% 3-11 years
 4.00% 11+ years
  


$Bun
CanadaCanadian Treasury Bill (CTB)

Canadian Government Bond (CAN)
Nominal2.75%
 
Market2.75% 10 calendar days-3 years
 3.25% 3-7 years
 4.25% 7-11 years
 5.25% 11+ years
$Bon

DenmarkDanish Treasury Bill (DGTB)

Danish Government Bond (DGB)
Nominal2.75%
  
Market2.75% 5 working days-3 years
 3.00% 3-7 years
 4.00% 7-11 years
 4.50% 11+ years


$Bun
FinlandFinnish Treasury Bill (RFTB)

Finnish Government Bonds (RFGB)
Nominal2.25%
 
Market2.25% 4 working days-3 years
 2.50% 3-7 years
 3.00% 7-11 years
 4.00% 11+ years


$Bun
FranceBons du Tresor a Taux Fixe et Interet Precompte (BTF)

Bons du Tresor a Taux Fixe et Interet Annuel (BTNS)
Obligations Assimilables de Tresor (FRTR)
Nominal2.25%
 
Market2.25% 4 working days-3 years
 2.50% 3-7 years
 3.00% 7-11 years
 4.25% 11+ years


$Bun
GermanyGerman Treasury Bill (BUBILL)

Bundesobligationen (OBL)
Bundesschatzanweisungen (BKO)
Deutsche Bundesbahn (DBB)
Deutsche Bundesrepublik (DBR)
Treuhandanstalt (THA)
Nominal2.25%
 
Market2.25% 2 working days-3 years
 2.50% 3-7 years
 3.00% 7-11 years
 3.75% 11+ years


$Bun
ItalyBuoni Ordinari del Tesoro (BOTS)

Buoni del Tesoro Poliennali (BTPS)
Certificati di Credito del Tesoro (CCTS/ICTZ)
Nominal2.25%
 
Market2.25% 3 working days-3 years
 3.00% 3-11 years
 4.00% 11+ years


$Bun
NetherlandsDutch Treasury Certificate (DTB)

Dutch Government Bond (NETHER)
Nominal2.25%
 
Market2.25% 10 working days-3 years
 3.00% 3-11 years
 4.00% 11+ years


$Bun
NorwayNorwegian Treasury Bill (NGTB)

Norwegian Government Bond (NGB)
Nominal2.75%
 
Market2.75% 8 working days-3 years
 3.00% 3-7 years
 4.00% 7-11 years



$Bun
SpainSpanish Letras del Tesoro (SGLT)

Spanish Government Bond (SPGB)
Nominal2.25%
 
Market2.25% 2 working days-3 years
 3.00% 3-11 years
 4.00% 11+ years


$Bun
SwedenSwedish Treasury Bill (SWTB)

Swedish Government Bond (SWED)
Nominal2.75%
 
Market2.75% 4 working days-3 years
 4.00% 3-11 years
 4.50% 11+ years


$Bun
UKUnited Kingdom GBP Treasury Bill (UKTB)

United Kingdom Gilt Bond (UKT)
Nominal2.25%
 
Market2.25% 10 calendar days-3 years
 2.50% 3-7 years
 3.00% 7-11 years
 4.00% 11+ years


$Gil
USUS Treasury Bill (B)

US Treasury Note / Bond (T)
Nominal2.75%
 
Market2.75% 2 working days-3 years
 3.25% 3-7 years
 4.25% 7-11 years
 5.25% 11+ years


$Bon
Other Securities 
Sterling CDsLimited range of acceptable issuers, under 1 year to maturityNominal 5% 
EuroDollar CDsLimited range of acceptable issuers, under 1 year to maturityNominal 5% 
Notes
  1. Members should refer to LCH.Clearnet Limited's General Regulations, Default Rules and Procedures, or telephone LCH.Clearnet Limited Treasury Operations on +44 (0)20 7426 7124 for information relating to the acceptance of collateral.
  2. Before any securities are accepted, members must complete a legal form of charge, for further information telephone LCH.Clearnet Limited Membership on +44 (0)20 7426 7627.
  3. LCH.Clearnet Limited imposes overall limits on CDs and performance bonds.
  4. Certain taxation restrictions and requirements may apply to securities.
  5. Any collateral may be used to cover any margin liability with the following restrictions:
    1. US Dollar securities held in New York may not cover equity options (including index options) margins, and EquityClear margins;
  6. To be acceptable, government securities must be issued in the home country of the issuing government and be denominated in its domestic currency (a definition which, for Euroland countries, includes both their legacy currencies and the euro).
  7. The list refers to collateral acceptable to LCH.Clearnet Limited as margin cover for all business cleared. Certain European regulators have agreed that OTC instruments registered with LCH.Clearnet Limited should be exempt (following Directive 2000/12/EC of 20 March 2000) from credit equivalent amount add-on. Any such exemption applies to LCH.Clearnet Limited members only where initial margin requirements are met with Cash or the Government Securities acceptable by LCH.Clearnet Limited. Members are responsible for ensuring that they comply fully with regulatory requirements in this respect.
  8. Charge and Credits
    1. Cash - Interest is paid on cash at the London Deposit Rate (LDR). This is accrued daily and paid on a monthly basis to your PPS account. LDR can be viewed daily on TRS at $BRT.
    2. Performance Bonds - LCH.Clearnet Limited charges 10 basis points (annualised) for utilisation. This is accrued daily and charged on a monthly basis to your PPS account.
    3. Government Securities and CDs - LCH.Clearnet Limited charges 10 basis points for utilisation. This is accrued daily and charged on a monthly basis to your PPS account.