Margin call

Margin call

Adjusted market value Margin call

Date 0

Upper trigger Adjusted amount market value 51,500,000 51,050,728

Credits related to margin calls

Credits related to margin calls Additional credit to credit institutions , arising from value increases of underlying assets regarding other credit to these credit institutions

Deposits related to margin calls

Deposits related to margin calls 3 .

Credits related to margin calls

EN 3 .

Upper trigger amount Adjusted market value

Nominal value or repo cost 5.5 .

( e ) deposits related to margin calls ( liability item 2.5 of the HBS )

Lower trigger amount ( 1 ) Upper trigger amount ( 2 )

Fixed term deposits Fine tuning reverse operations Deposits related to margin calls

The significant increase in oil prices , which reached a peak in October 2004 , exerted an additional dampening influence .

( e ) deposits related to margin calls arising from ESCB monetary policy operations ( item 2.5 of the HBS )

The assets are valued at zero at the next valuation date and a margin call may be triggered ( see Annex 6 ) .

Main refinancing operations Longer term refinancing operations Fine tuning reverse operations Structural reverse operations Marginal lending facility Credits related to margin calls

The assets are valued at zero at the next valuation date and a margin call may be triggered ( see Annex 6 ) .

The assets are valued at zero at the next valuation date and a margin call may be triggered ( see Annex 6 ) .

In other words, with or without children, the French citizen s annual tax payment would be smaller than that of the Italian taxpayer with no additional wealth.

The assets are valued at zero on the next valuation date and a margin call may be triggered ( see also Annex 6 ) .

The assets are valued at zero on the next valuation date and a margin call may be triggered ( see also Annex 6 ) .

The assets are valued at zero on the next valuation date and a margin call may be triggered ( see also Annex 6 ) . In addition , the counterparty has to remove the asset on the earliest possible date .

The assets are valued at zero at the next valuation date and a margin call may be triggered ( see also Annex 6 ) .

The assets are valued at zero at the next valuation date and a margin call may be triggered ( see also Annex 6 ) .

The assets are valued at zero on the next valuation date and a margin call may be triggered ( see also Appendix 6 ) .

Further Reading

External links

Utrecht University.

Current accounts ( covering the minimum reserve system ) Deposit facility Fixed term deposits Fine tuning reverse operations Deposits related to margin calls EN

Adjusted market value 50,113,203 94,926,624 93,839,080 95,487,902 95,399,949 80,333,458 80,248,396

AAR , amount AAR , amount AAR , amount AAR , amount AAR , amount AAR , amount AAR , amount AAR , amount AAR , amount AAR , amount AAR , amount AAR , amount

Main refinancing operations Longer term refinancing operations Fine tuning reverse operations Structural reverse operations Marginal lending facility Credits related to margin calls

Current accounts ( covering the minimum reserve system ) Deposit facility Fixed term deposits

Balances with banks , security investments and loans Claims arising from the credit facility under ERM II 3 .

Deposit facility Fixed term deposits Fine tuning reverse operations Deposits related to margin calls

If a margin had to be paid to the counterparty by the national central bank in relation to the second transaction , such a margin may , in certain cases , be netted out with the margin paid to the national central bank by the counterparty in relation to the first transaction . As a result , there would only be one margin settlement .

Book entry system an accounting system that permits the transfer of securities and other financial assets without the physical movement of paper documents or certificates ( e.g. the electronic transfer of securities ) .

This implies that if the value , measured on a regu lar basis , of the underlying assets falls below a certain level , the NCB will require the counterparty to supply additional assets or cash ( i.e. it will make a margin call ) .

Bilateral procedure a procedure whereby the central bank deals directly with only one or a few counterparties , without making use of tender procedures .

The averaging provision contributes to the stabilisation of money market interest rates by giving institutions an incentive to smooth the effects of temporary liquidity fluctuations .

Additional information