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FSB warned not to overfill its planned CCP resolution toolbox
Network contagion could make cash calls systemically risky, but TLAC also controversial
![Bank for International Settlements](/sites/default/files/styles/landscape_750_463/public/2023-11/FSB%20BIS%20montage%20Getty%201419908042%20Ulrish%20Roth_0.jpg.webp?h=1b75fe38&itok=8U1qNN0K)
Market participants have expressed concerns about a resolution toolbox for clearing houses proposed by the Financial Stability Board in September, and in particular warned against the idea that cash calls on clearing members could be used for a very wide range of scenarios.
Marnie Rosenberg, managing director and global head of central counterparty (CCP) credit risk and strategy at JP Morgan, said on November 8 that the FSB should ensure the approach to resolution and recovery at CCPs was
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