Fed Governor Powell Talks About Risks Facing CCPs
Speaking at the Annual International Banking Conference yesterday, Federal Reserve (Fed) governor Jerome Powell warned listeners that central clearing of derivatives was concentrating risk in the financial system and that we need to take action now to shore up what have become key focal points before the next crisis hits.
“Moving a significant share of the $700 trillion OTC derivatives market to central clearing will concentrate risk at CCPs. But the intent is not simply to concentrate risk . . .
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