Pinned post
Replying to @yanisvaroufakis
Because of Brexit, the UK, unlike the EU, was able to maintain the exemption from EMIR and make it permanent. UK is the collateral haven (hub) of Europe.
When interest rates were manipulated up again by the ECB in 2022, no less than 270 billion euros shifted from reserve accounts to deposits on the balance sheet of the Dutch central bank @DNB_NL. 110 billion in refinancing operations were also written off, the amount that ING Bank had built up in repos in 2008.
In 2022, Goldman Sachs also acquired Dutch pension asset manager NN Investment Partners, former ING Investment Management, which became a partner of the ECB in 2014 for the execution of ECB’s purchase programme.
Dutch pension funds deposited 82 billion euros in collateral for OTC derivatives in 2022.
Read Worst Bank Scenario and discover how more than EUR 2000 billion collateral shortage OTC derivatives has been 'laundered' in EU and how Dutch pension funds - and the clearing (collateral) exemption of EMIR for pension funds - have been abused by banks (with help of the Dutch State, central bank and conducteur supervisor @AutoriteitFM) to conceal 200 billion in collateral shortages of banks in the Netherlands.
My name is Hester Bais. I am former lawyer at ING, Euroclear, LCH, Euronext, regulator @AutoriteitFM and ex-senior associate at international law firm Hogan Lovells (specialized in trading, clearing, derivatives law and collateral management)
- and as of 2014 WHISTLEBLOWER
When interest rates were manipulated up again by the ECB in 2022, no less than 270 billion euros shifted from reserve accounts to deposits on the balance sheet of the Dutch central bank @DNB_NL. 110 billion in refinancing operations were also written off, the amount that ING Bank had built up in repos in 2008.
In 2022, Goldman Sachs also acquired Dutch pension asset manager NN Investment Partners, former ING Investment Management, which became a partner of the ECB in 2014 for the execution of ECB’s purchase programme.
Dutch pension funds deposited 82 billion euros in collateral for OTC derivatives in 2022.
Read Worst Bank Scenario and discover how more than EUR 2000 billion collateral shortage OTC derivatives has been 'laundered' in EU and how Dutch pension funds - and the clearing (collateral) exemption of EMIR for pension funds - have been abused by banks (with help of the Dutch State, central bank and conducteur supervisor @AutoriteitFM) to conceal 200 billion in collateral shortages of banks in the Netherlands.
My name is Hester Bais. I am former lawyer at ING, Euroclear, LCH, Euronext, regulator @AutoriteitFM and ex-senior associate at international law firm Hogan Lovells (specialized in trading, clearing, derivatives law and collateral management)
- and as of 2014 WHISTLEBLOWER
