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SA-CCR adoption may spur wider FX swaps clearing
With up to 90% lower exposures on offer, dealers say capital benefits could outweigh margin costs
![LCH-forex-clearing-expansion LCH-forex-clearing-expansion](/sites/default/files/styles/landscape_750_463/public/2019-04/LCH-forex-clearing-expansion.jpg.webp?h=e8a7d866&itok=IzS3PY3y)
Clearing deliverable foreign exchange swaps and forwards could slash leverage ratio exposures by up to 90% under new counterparty credit risk rules compared with bilateral trades, giving some dealers a capital incentive to clear the positions that would outweigh the cost of posting margin for the first time.
“I think this could be a game-changer for the future of clearing and we do believe there is a benefit for the leverage ratio in using clearing houses,” says a collateral head at one
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