Daily News: November 14, 2013

Bloomberg: BofA, Others Provide $7B Credit Line to CME

Bloomberg reported that the following banks boosted the CME Group’s credit line from $5 billion to $7 billion: Bank of America, Deutsche, Bank of China, The Bank of Tokyo-Mitsubishi UFJ, Citigroup, BMO Harris, Barclays, The Bank of Nova Scotia, Fifth Third, Lloyds and Wells Fargo.

Bloomberg said the financing pact can be expanded to $10 billion, and funds can be used to provide temporary liquidity to satisfy obligations of defaulted clearing members, or back money transfers, according to CME in a regulatory filing.

To read the entire Bloomberg article, click here.