Duffie, Darrell; Scheicher, Martin; Vuillemey, Guillaume - 2014
demand of new margin and clearing practices and regulations. We decompose collateral demand for both customers and dealers … impact on collateral demand of more widespread initial margin requirements, increased novation of CDS to central clearing …-to-dealer initial margin requirements, however, mandatory central clearing is shown to lower, not raise, system-wide collateral demand …