Clearing Circular 37/2022 | Interest on EUR cash collateral

    Following the recent adjustment of the interest rates by the European Central Bank and the overall higher representative EU market overnight interest rates, ECC herewith confirms to pay interest on EUR amounts provided by Institution Clearing Members as outlined below.

    ECC will set the applicable interest rate, taking the representative EU market overnight interest rates into consideration and will publish the interest rate via the ECC website at the latest on October 31st, 2022.

    This interest rate will apply retroactively from September 14th, 2022 until October 31st, 2022 and will remain valid until further notice.

    The payment to Institution Clearing Members for September and October will be performed as part of the standard invoicing process of November 2022.

    ECC reserves the right to adjust the interest rate from time to time considering respective market conditions and will publish any adjustments to the interest rate accordingly.

    The interest rate applies to all “guarantee funds” provided by Institution Clearing Members as defined in the Guideline of the European Central Bank (ECB/2012/27). For ECC, this comprises until further notice cash margin collateral as well as cash contributions to the Clearing Fund.

    ECC’s price list will be updated accordingly.