EPISODE · Feb 23, 2026 · 37 MIN
57. Vestia - Derivatives, Intermediaries, and the Liquidity Death Spiral
from The SKADI Podcast · host SKADI
Nic and Damian examine the near-collapse ofVestia.At its height:Over €20 billion in derivatives exposureMassive collateral callsA liquidity crisisCriminal convictionsExecutive resignationParliamentary inquirySector-wide reformThis was a housing association.And yet its balance sheet behaved like a leveraged derivatives book.More about SKADI:Website: www.skadilimited.comX: https://x.com/skadilimitedLinkedin: ttps://www.linkedin.com/company/skadi-limitedInstagram: https://www.instagram.com/skadilimited/#finance #treasury #swaps
What this episode covers
Nic and Damian examine the near-collapse ofVestia.At its height:Over €20 billion in derivatives exposureMassive collateral callsA liquidity crisisCriminal convictionsExecutive resignationParliamentary inquirySector-wide reformThis was a housing association.And yet its balance sheet behaved like a leveraged derivatives book.More about SKADI:Website: www.skadilimited.comX: https://x.com/skadilimitedLinkedin: ttps://www.linkedin.com/company/skadi-limitedInstagram: https://www.instagram.com/skadilimited/#finance #treasury #swaps
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57. Vestia - Derivatives, Intermediaries, and the Liquidity Death Spiral
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