Towards T+0 reconciliation
The Counterparty Risk Management Policy Group's third major policy statement appeared in early August - and it presents surprisingly radical demands, says David Rowe
Periods of crisis always prompt bouts of soul searching and critical evaluation. The continuing economic gloom has already produced a number of these, most notably Observations on risk management practices during the recent market turbulence, by the Senior Supervisors Group (Risk July 2008, page 75). In August, the Counterparty Risk Management Policy Group (CRMPG) issued its third major policy statement, entitled Containing systemic risk: the road to reform, widely referred to as CRMPG III.
Some
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