Collateral differs in cost and in where it can be used. In interest rate swaps at Japan Securities Clearing Corporation (JSCC), deposits and returns of initial margin have deadlines and are netted with receipts and payments of variation margin. In bilateral trades, the types of collateral that may be posted are set in advance in the CSA.
Collateral substitution
- Japanese
- 担保の差し替え
- Last reviewed
- October 5, 2026
This is a draft, shown for review before publication.
Collateral substitution refers to situations in which the party posting collateral changes the assets it has posted.