CCP resolution plans ‘on the wrong path’, says Fed adviser
Bank framework has “contaminated” policy for CCPs, says Chicago Fed’s Steigerwald
Attempts to make clearing houses stronger and avoid taxpayer-funded bailouts are “on the wrong path”, according to a US regulatory policy adviser, who blamed it on a lack of understanding.
Clearing houses were given a greater role in defusing counterparty risks at the G20 meeting in Pittsburgh in 2009, where member countries agreed to mandate clearing for all standardised over-the-counter derivatives. Regulators are currently trying to draw up a resilience framework that will reduce the chance
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