Non-cleared IRS gaps out from cleared

Dealers are exercising bargaining power and protecting against increased regulatory costs by charging more for non-cleared interest rate swaps, according to a new report by the Bank of England (BoE).

  • By Costas Mourselas
  • 20 Aug 2018

Clients are paying dealers 8bp more for non-cleared interest rate swaps where they pay the fixed rate, compared with equivalent cleared swaps, according to research by Gino Cenedese, Angelo Ranaldo and Michalis Vasios for the BoE.

Dealers taking the fixed end of non-cleared interest rate swaps were not ...

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