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Roles that need it

• Collateral Management Analyst
• Treasury Operations Analyst
• Securities Lending & Repo Analyst
• Liquidity Risk Analyst
• Credit Risk Analyst

Skills it belongs to

• Collateral and margining
• Securities financing (repo and securities lending)

Related concepts

• Repo (Repurchase agreement)A repurchase agreement (repo) is a sale of securities together with an agreement to buy them back at a set price on a later date. Economically it is a secured loan: the seller borrows cash, the buyer lends it and holds the securities as collateral, with the price difference representing the repo rate.
• Eurosystem collateral frameworkThe Eurosystem collateral framework is the set of rules on which assets banks can pledge to borrow from euro area central banks, and how they are valued. It covers marketable assets, such as bonds, and non-marketable ones, such as credit claims, with eligibility criteria, valuation haircuts and limits, under Guideline (EU) 2015/510.
• Initial margin (IM)Initial margin (IM) is collateral collected to cover the potential future loss on a portfolio if a counterparty defaults, over the time needed to close out or replace the positions. Central counterparties collect it from clearing members; for uncleared derivatives, covered firms exchange it two-way and keep it segregated.
• Margin callA margin call is a demand by one party, or by a central counterparty, for additional collateral when exposure rises or collateral value falls below the agreed level. The other party must deliver eligible assets within the agreed time, usually the same or next business day; disputes are reconciled and escalated.

Sources

• Guideline (EU) 2015/510 (Eurosystem monetary policy framework), EUR-Lex (external site) accessed 31 Oct 2026
• CPMI glossary, BIS (external site) accessed 31 Oct 2026

Updated 31 Oct 2026.