Profile - Federal Reserve Bank of New York's Theo Lubke
The Federal Reserve Bank of New York has been shepherding global efforts to improve the over-the-counter derivatives market since 2005 and continues to push dealers to improve in areas such as transparency and central clearing. Theo Lubke, senior vice-president at the supervisor, talks to Mark Pengelly
Despite a last-minute scramble to shore up support, US financial reform was on the brink of becoming law as Risk went to press. The new rules will overhaul the derivatives market, requiring dealers and a selection of other large derivatives users to clear standardised trades through central counterparties (CCPs), and will also provide regulators with far more information.
Although the legislative process in Congress has generated a lot of discussion, the Federal Reserve Bank of New York has long
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