• Cross-Border Transactions in Intermediated Securities: Switzerland Maintains its Lead (Part 2/2)

    “The transnational nature of collateral goes beyond the mere (but important) fact that the parties to a swap are often incorporated in different jurisdictions. Collateral may be posted in different currencies, or in the form of government bonds issued by different governments. The collateral is held with intermediaries often incorporated in yet other jurisdictions, with…


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