| LCH circular number: | 4364 |
| Date: | December 1, 2025 |
| To: | All LCH Ltd Members and Clients |
Dear LCH Ltd Members and Clients,
We are pleased to announce that LCH Limited (“LCH”) is expanding its range of eligible non-cash collateral to include:
- BNG Bank bonds (BNG) denominated in EUR/USD.
- Nederlandse Waterschapsbank bonds (NEDWBK) denominated in EUR.
- Supranational European Investment Bank bonds (EIB) denominated in GBP.
- The following Danish Covered bonds as Floating Rate Notes denominated in DKK:
- Nordea Kredit Realkredit (NDAFH)
- JYSKE Realkredit A/S (JYKRE)
- DLR Kredit A/S (DLRKRE)
- Realkredit Danmark (RDKRE)
- Nykredit Realkredit AS (NYKRE)
The go-live date is Tuesday 2nd December 2025*.
The new non-cash collateral will be subject to haircuts and concentration limits. All new collateral extensions will be accepted on a bilateral basis with settlement at Euroclear Bank, with EIB bonds denominated in GBP also being eligible to be posted via Euroclear and Clearstream Triparty.
Further details can be found on the LSEG website from Tuesday 2nd December: LCH Ltd Acceptable Securities and available today in the Knowledge Centre (LCH - General Ltd - Member/Client Folder > Service Information > Haircut Schedules) which is accessible via the LCH Portal.
If you require any further information or have any questions, please contact: collateral.clientservices@lch.com.
*Subject to regulatory review
Kind Regards,
Collateral Services