One in three financial institutions would accept “low-quality, complex and opaque” collateral to back trades provided that it’s “cheap,” according to a survey from the operator of Switzerland’s exchange and clearinghouse.
-Bloomberg, "Banks Ready to Use Low-Quality Collateral If It’s Cheap"
Yes, yes we understand the quality/price/haircut matrix.
I don't care who you are, that's funny...
-Larry-the-cable-guy
