Changes in the lending interest rates and in the margin requirements - 10 Feb 2010
Hellenic Exchanges (HELEX) have decided on adjustments in the lending interest rates and the margin requirements that apply in the organized stock lending market.
Download the announcement in pdf format
Press Release
Changes in the lending interest rates and in the margin requirements in the organized stock lending market
10 February 2010 - Hellenic Exchanges (HELEX) have decided the following adjustments in the lending interest rates and the margin requirements that apply in the organized stock lending market:
Stock Lending Interest Rates
The main stock lending interest rate (Stock Repo - SL and Stock Reverse Repo - SB) will be increased from 2.50% to 5.50%. This modification will go into effect starting on Thursday 11.2.2010 and will concern the new lending contracts that will be traded from that date forward.
Margin Requirements
The margin requirements for all stock lending products (Stock Reverse Repo and Long RA), will be gradually adjusted, given the increased price volatility.
The adjustment will be gradual, over a three week period, in order to provide the market with adequate time to adjust, as follows:
? starting on 16.2.2010 to 130%
? starting on 22.2.2010 to 140%
? starting on 1.3.2010 to 150%
The detailed interest rates and margin requirements are listed in the attached table.
New Stock Lending Interest Rates starting on 11.2.2010
?o Minimum Interest Rate: from 2.00% to 4.50%
?o Central Interest Rate: from 2.50% to 5.50%
?o Maximum Interest Rate: from 8.00% to 10.00%
New Lending Margin Requirements starting on 16.2.2010
|
Stock |
Stock Reverse Repo Margin Requirement and |
|||
|
9.2.2010 |
16.2.2010 |
22.2.2010 |
1.3.2010 |
|
|
ETE |
118% |
130% |
140% |
150% |
|
HTO |
114% |
130% |
140% |
150% |
|
INTRK |
125% |
130% |
140% |
150% |
|
ALPHA |
118% |
130% |
140% |
150% |
|
EEEK |
118% |
130% |
140% |
150% |
|
OPAP |
112% |
130% |
140% |
150% |
|
PPC |
117% |
130% |
140% |
150% |
|
EUROB |
117% |
130% |
140% |
150% |
|
TPEIR |
116% |
130% |
140% |
150% |
|
EXAE |
118% |
130% |
140% |
150% |
|
TITK |
117% |
130% |
140% |
150% |
|
GEK |
122% |
130% |
140% |
150% |
|
ELTEX |
121% |
130% |
140% |
150% |
|
INLOT |
119% |
130% |
140% |
150% |
|
MIG |
119% |
130% |
140% |
150% |
|
MYTIL |
119% |
130% |
140% |
150% |
|
MOH |
118% |
130% |
140% |
150% |
|
TT |
117% |
130% |
140% |
150% |
|
BIOX |
120% |
130% |
140% |
150% |
|
BOC |
117% |
130% |
140% |
150% |
|
ATE |
119% |
130% |
140% |
150% |
|
ELPE |
117% |
130% |
140% |
150% |
|
MARFB |
120% |
130% |
140% |
150% |
|
METKK |
118% |
130% |
140% |
150% |
|
SIDE |
125% |
130% |
140% |
150% |
|
AEF20 |
116% |
130% |
140% |
150% |
|
ETFASE |
116% |
130% |
140% |
150% |
|
Other Large Capitalization Stocks |
130% |
130% |
140% |
150% |
|
Other |
130% |
130% |
140% |
150% |