Tag Archives: swap margin

SEC No-Action Letter Update: Mutual Funds Can Post Margin on Centrally Cleared Interest Rate Swaps

In a March 16th No-Action Letter, LCH.Clearnet Limited ("LCH") received a no-action letter from the SEC’s Division of Investment Management ("IM Division") that, in effect, permits a mutual fund to "place and maintain assets in the custody of" LCH or a clearing member of LCH (the "Clearing Member") for purposes of meeting margin requirements for interest … Continue Reading
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