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.
