• Change in Interest Rate on USD Cash Balances

      • To
      • Clearing Member Firms
      • From
      • CME Clearing
      • #
      • 20-101
      • Notice Date
      • 16 March 2020
      • Effective Date
      • 16 March 2020

    • Effective March 16, 2020, CME Clearing will modify the interest rate paid on USD cash balances on deposit by clearing members accordingly:

      - The interest rate paid on USD cash balances on deposit by clearing members to meet customer and house (proprietary) performance bond requirements associated with products in the Base waterfall will decrease from the current rate of Interest on Excess Reserves (“IOER”) less 25 basis points to IOER less 2 basis points.

      - The interest rate paid on USD cash balances on deposit by clearing members to meet customer and house (proprietary) performance bond requirements associated with products in the Cleared Swaps IRS waterfall will decrease from the current rate of IOER less 10 basis points to IOER less 2 basis points.

      - The interest rate paid on USD cash balances on deposit by clearing members to meet guaranty fund requirements associated with products in the Base waterfall and in the Cleared Swaps IRS waterfall will decrease from the current rate of 73 basis points to 5 basis points.

      For the full text of this advisory, please click here.

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