Template:Client money and banks: Difference between revisions
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Amwelladmin (talk | contribs) Created page with "===Banks=== Deposit-taking credit institutions and “approved banks” benefit from the general “{{cassprov|banking exemption}}” and do not have to offe..." |
Amwelladmin (talk | contribs) m Amwelladmin moved page Template:Banks and client money to Template:Client money and banks without leaving a redirect |
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Latest revision as of 17:20, 26 November 2019
Banks
Deposit-taking credit institutions and “approved banks” benefit from the general “banking exemption” and do not have to offer client money protection – see CASS 7.10.16 - 7.10.19 — but may do so if they wish, or their clients insist.
But they may well find it is quite painful and difficult to do, seeing as the one thing banks like to do most — that is, taking cash in and onto their balance sheet — is the one thing[1] a provider of client money protection may not do.
That won’t stop certain ETD clients — especially UCITS funds who can’t have credit exposure to single entities, not even banks — insisting that their initial margin is held as client money and thereby diversified.
- ↑ Well, all right, it is one of the thousands of things a client money provider may not do.