C2  Initial margins and capital at selected EU CCPs  (x-axis: total initial margins in EUR billions, y-axis: total CCP capital/total initial margins in %) 2.0 1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0  0 10 20 30 40 50 60 70 80 90 100 110 120 130 140 Source: CPMI-IOSCO public disclosures ; financial statements.
Today, we raised the policy interest rate by 50 basis points to 3.75%. This is the sixth consecutive increase since March. Quantitative tightening continues and is complementing increases in the policy rate. We also expect our policy rate will need to rise further.