Key facts
- NSCC issued a record $29.1 billion in aggregate initial margin calls in Q2.
- The maximum single-day call was 76.4% higher than three months prior.
- Required initial margin reached an all-time high of $27.6 billion at the end of Q2.
The National Securities Clearing Corporation (NSCC) issued its largest aggregate initial margin call in 11 years of reporting during the second quarter, reaching $29.1 billion. The maximum single-day call was 76.4% higher compared to the previous quarter and significantly exceeded the prior record of $17.2 billion, which was set in the fourth quarter of 2020. Required initial margin also surged, hitting an all-time high of $27.6 billion at the close of the quarter.