OCC Gets Nod to Upgrade Collateral Rules Against Risky Bets
Published Date: 4/10/2026
Notice
Summary
The Options Clearing Corporation (OCC) just got the green light to update what kinds of collateral it accepts and to beef up protections against risky situations where things could go wrong together. This change helps keep the financial system safer for everyone involved, especially OCC’s Clearing Members, and starts rolling out soon with no extra costs reported. Basically, it’s a smarter, safer way to handle money and risk in the options market!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Letters of Credit and GSE Debt Disallowed
OCC will no longer accept letters of credit or government‑sponsored‑entity (GSE) debt securities as margin collateral. OCC announced this determination on December 19, 2024, and said no Clearing Member has pledged GSE debt securities since July 11, 2023 and no letters of credit remain on deposit; the SEC approved the rule change on April 7, 2026.
More Margin for Spot Crypto ETP Custody
OCC will extend its specific wrong‑way risk (SWWR) add‑on to cover a Clearing Member's positions in spot cryptocurrency exchange‑traded products (ETPs) when that Clearing Member or its affiliate is the custodian of the ETP's cryptocurrency holdings, meaning affected Clearing Members must post additional margin. OCC stated that, at filing, only one Clearing Member has an affiliate that is a custodian for a spot cryptocurrency ETP; the SEC approved the change on April 7, 2026.
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