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@Leshaches
Could someone please explain if it’s common practice for the DTC to set a 100% collateral haircut to securities issued by lender banks to its the DTC and NSCC? It seems like it should be, from a risk management perspective it would otherwise create a vicious circle of dependencies…
https://www.dtcc.com/-/media/Files/pdf/2023/5/1/Important-Notice_DTC-Haircut-Updates-20230502_Final.pdf