JSCC placed majority of its default funds with the BoJ in Q2
Loss-absorbing resources stashed with commercial banks fell over the three months to end-June
The Japan Securities Clearing Corporation (JSCC) had over half of its members’ contributions to default funds placed with its central bank as of end-June, having pulled billions of yen out of commercial lenders over the second quarter.
Prefunded participant contributions to the central counterparty’s (CCP) default funds, which make up the largest portion of its loss-absorbing capital, totalled ¥983.5 billion ($9.3 billion) as of end-June. This was down 9% on three months prior.
Of this amount
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