VIII.CONSEQUENCES OF CENTRAL CLEARING
As derivatives markets grew, particularly in the 1970s and 1980s, some CCPs became…
The systemic importance of CCPs will expand dramatically as a result of Dodd-Frank,…
Moreover, these regulatory changes are expressly intended to make CCPs an important…
CCPs can contribute to the stability of the financial system. In particular, by facilitating…
That said, it must also be recognized that CCPs can create, or contribute to, systemic…
Specifically, although collaterals provide protection against default, changes in…
Nevertheless, the CPSS-IOSCO also recognizes that CCPs and other financial market…
While CCPs limit the risks to other market participants and to the functioning of…
In sum, clearing and CCPs will have systemic effects, some positive, some potentially…
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