European banks vague on settled-to-market switch

- By Alessandro Aimone
- @aimoneale
- 26 Jun 2018

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European banks followed their US peers in adopting a settled-to-market (STM) model for cleared derivatives in 2017, although they have been less forthcoming in disclosing the exposure-reducing effects of the switch.

Risk Quantum analysis shows significant reductions in gross derivatives values reported by several European banks at end-2017, although the proportion attributable to STM, rather than other measures, was harder to determine at some firms than others.

Swiss lender UBS reported a cut

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