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US banks hold high-quality collateral to cover credit-risk exposure, OCC reports

( October 9, 2014, 17:06 GMT | Official Statement) -- MLex Summary: US banks hold collateral to cover 82 percent of their credit-risk exposure to derivatives, according to a report from the US Office of the Comptroller of the Currency. The collateral is "very high" quality, with 78 percent in cash, according to the report. The OCC also found that four banks, including JPMorgan and Citigroup, hold 92 percent of the total value of derivatives, and most contracts are concentrated in interest-rate products.Statement follows in full. Also see document below....

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