Clearing Controls Insufficient: N.Y. Fed

08 Jan 2010

The Federal Reserve of New York has called international standards for regulating clearing houses in troubled times insufficient.

The Federal Reserve of New York has called international standards for regulating clearing houses in troubled times insufficient. In its staff report yesterday, the New York Fed stated, “Regulators should ensure that a [central counterparty’s] risk management design and financial resources are robust enough to allow the CCP ...

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