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Default Resources – Combined

This visualization shows the resources available to cover losses in the event of a default by one or more members of a derivatives clearinghouse. The data in the visualization include prefunded resources only and exclude various other types of commitments, such as lines of credit and default insurance policies, that can be called on if the prefunded amounts are not sufficient to cover the losses.

IM Combined
IM Service Level
DF Combined
DF Service Level
Margin Breaches
Stress Loss
Concentration


Functionality: use the "Select Report Quarter" to access historical data. To narrow down the list of CCPs included in the visualization, unclick the boxes next to the CCP names.

Default Fund Member Contributions
PQD Field 4.1.4

This amount consists of the total funds contributed by all CCP members to all default funds maintained by each CCP. A default fund serves as a backstop in case losses from a member default cannot be covered by that member's initial margin and default fund contribution.

 

Default Fund Skin in the Game
PQD Field 4.1.1

This amount consists of the funds contributed by the CCP out of its own resources to a default fund. The amounts shown in this chart consist only of those funds available to absorb losses from a default before member default fund contributions are used. Some CCPs allocate additional funds to be used alongside member contributions. In addition, Intercontinental Exchange, the parent company of several CCPs in this visualization, provides an extra layer of protection through a default insurance policy.

 

Ratio of Skin in the Game to Member Contributions
PQD Field 4.1.1 / 4.1.4

This ratio shows the size of the CCP's contribution to the default fund relative to the sum of the member contributions.

 

Note: The clearinghouses operated by Intercontinental Exchange also have a layer of protection provided by a default insurance policy that is intended to cover losses from a clearing member default.

Disclaimer: The data in this report are collected from the exchanges.  FIA publishes this report for informational purposes and does not guarantee its accuracy or completeness.  FIA specifically disclaims any legal responsibility for any errors or omissions and any liability for losses or damages incurred through the use of the report.  Please notify data@fia.org if there are any errors or omissions.

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