On Oct. 23, OpCC issued increase to clearing fund cash requirement.
OpCC issued memo to increase the minimum cash requirement for the Clearing Fund.
Temporarily increased cash required to be maintained in Clearing Fund 25% to $10bn.
Minimum Cash Requirement
Under OpCC Rule 1002(a)(i)(A), OCC to temporarily increase the amount of cash required to be maintained in the Clearing Fund from $8bn to $10bn (25% increase).
Clearing Fund sizing report on Nov. 1, 2024 will contain each clearing member’s finalized new requirement amount; settlements due on, before, 8AM CT Nov. 1, 2024.
Increase based on OCC analysis of projected liquidity demands under stress scenarios.
Increase in Clearing Fund cash requirement is necessary to ensure OCC’s prefunded liquidity resources are consistent with amounts required under OCC’s stress testing.
Effectiveness
OCC will implement increase to Clearing Fund requirement at next monthly sizing of Clearing Fund, which will occur after business close on last business day of Oct. 2024.
