RepoClear Buffer Account Changes

We are pleased to inform you of the following improvements LCH.Clearnet Ltd (LCH.C) will be introducing to change to the way RepoClear buffer liabilities are reported. 

Currently members are only able to view their B account cash balances on end of day Banking reports.  Buffer liabilities are not reflected in end of day Banking reports and members are advised of their liability amounts via email.

This new process benefits members by allowing them to view their cash balances and liabilities from a single source.  Buffer liabilities will now appear on Banking Report 19 (Overnight Cover Distribution) and Report 30 (Cover Calling Summary).  Clearing Members should note that buffer liabilities will not be included in Report 21 (Initial and Variation Margin).  Members will continue to receive separate email advices detailing liability amounts.

B accounts will remain with auto-repay disabled and members will need to recall any excess cash using CMS in accordance with standard LCH.C procedures and deadlines.

This change will be implemented with effect from the close of business on Friday 24 April 2015. 

Should you have any further questions please do not hesitate to contact Collateral Operations on 020 7426 7505 or email collateral.queries@lchclearnet.com