Clearstream’s July GSF creeps up 09 August 2013Frankfurt Reporter: Jenna Jones
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Clearstream’s global securities financing (GSF) services experienced a monthly average outstanding of €575.1 billion in July.
The combined services, which include triparty repo, securities lending and collateral management, collectively experienced an increase of 2 percent over July 2012 (€563.7 billion).
At €572.0 billion, the year-to-date July 2013 GSF monthly average outstanding was 2 percent below the same period last year (year-to-date July 2012 was €582.5 billion).
Stefan Lepp, head of GSF and member of the executive board of Clearstream, said: “The European Central Bank’s long-term refinancing operation has given the market access to cheap liquidity which is why the GSF monthly average outstandings are slightly lower than at the beginning of the year.’
“Despite the monetary policy intervention, which is a temporary phenomenon, our outstandings are 2 percent above July 2012 levels, which shows that we are well on track.”
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