BlackRock adds to clamour for more CCP capital
BlackRock co-founder Barbara Novick has criticised clearing houses for their lack of capital and called for more robust supervision
BlackRock's co-founder Barbara Novick says oversight of central counterparties (CCPs) is not strict enough, and has called for them to hold more capital.
Speaking at the Sibos conference in Boston on October 1, Novick said the regulatory framework governing central clearing of derivatives "still needs some work".
"We have created utilities. But unlike banks that have capital requirements and stress testing, the oversight of the CCPs is not sufficient. They don't have sufficient capital. They are
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