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This leads to ''enormous'' overnight exposure, but this is the way the market seems to have operated since credit support annexes were a thing. | This leads to ''enormous'' overnight exposure, but this is the way the market seems to have operated since credit support annexes were a thing. | ||
{{Sa}} | {{Sa}} | ||
*[[Transfers, Calculations and Exchanges - VM CSA Provision]] | |||
*[[Archegos]] | *[[Archegos]] | ||
*[[When variation margin attacks]] | *[[When variation margin attacks]] | ||
{{ref}} | {{ref}} |