Central counterparties
Follow this and additional works at: https://scholarship.law.uc.edu/uclr Recommended Citation Christoph Henkel, Using Central Counterparties to Limit Global Financial Crises, 88 U. Cin. L. Rev. 397 (2020) Available at: https://scholarship.law.uc.edu/uclr/vol88/iss2/2
... 131. See, e.g., Jeremy Grant, Jung-a Song, & Phillip Stafford, Banks Launch Clearing Review After Korean Broker Default, F IN . T IMES , M ARCH 7, 2014, https://www.ft.com/content/14b59838-a4d6-11e3- ...
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Central Counterparties: Addressing their Too Important to Fail Nature
... Central counterparties (CCPs) can offer significant benefits to a market. However, CCPs are also highly interconnected with financial institutions and markets and therefore too important to fail. The ...
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Fractures of the UK regulation and supervision of central counterparties in the OTC derivatives market
... of Central Counterparties (CCPs), as new intermediaries of the ...The central hypothesis of this research is that the design and implementation of a coherent risk-based regime would allow UK ...
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Lessons from International Central Counterparties: Benchmarking and Analysis
... 12 Second, there are many considerations around liquidity line sourcing. Having multiple suppliers decreases counterparty risk through diversification. Nevertheless, as above, it also increases costs, since it is ...
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The Foreign Exchange Market and Central Counterparties
... As noted above, the structure of participation in a market, in particular the number of counterparties, can affect the extent to which multilateral netting reduces counterparty risk. Although there is a wide range ...
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Missing pieces in the patchwork of EU financial stability regime? The case of central counterparties
... national central banks may provide facilities, and the ECB may make regulations, to ensure efficient and sound clearing and payment systems within the Union and with other ...
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Margin-setting by Central Counterparties of over-the-counter derivatives
... A swap is an example of an OTC derivative between two parties under which the two parties agree to exchange cash flows in the future. The first IRS contract was negotiated in the early 1980s. The most common type of IRS ...
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Central Counterparties Help, But Do Not Assure Financial Stability
... Macroprudential policy aims to mitigate risk to the financial system as a whole. Yet, most of the macroprudential assessment of new CCP regulations evaluate the individual CCP’ s resilience in isolation, without ...
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Payment and Settlement Systems in Finland 1995
... Since the options exchanges act as central counterparties to all trades credit risks are concentrated in them. The management of risks is carried out at several levels.. capital adequac[r] ...
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Under-collateralisation and rehypothecation in the OTC derivatives markets.
... at central counterparties (CCPs) should help the OTC derivatives market be better collateralised, lowering the derivatives risk at the large banks that dominate this ...
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DISCLOSURE REPORT 2020
... N2: The group applied the current exposure method (CEM) to calculate required capital for over the counter (OTC) exposures and the standardised approach (TSA) for security financing transactions (SFT). Counterparty ...
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UK Financial Reforms: Bank of England 2 0
... derivatives, central counterparties (CCPs), and trade repositories; the Alternative Investment Fund Managers Directive (AIFMD), which regulates hedge funds, private equity, and real estate funds; and the ...
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Guilty by Association? Regulating Credit Default Swaps
... Section 17A of the Exchange Act requires central counterparties that clear securities to register with the SEC. 9 ' Nonetheless, the exemptive order is conditioned up[r] ...
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EMIR Gearing up for Clearing PART I
... through central counterparties appears likely to come into effect from the first half of 2015 with a phased-in obligation to clear starting in the second half of ...derivatives counterparties need to ...
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RBC CAPITAL MARKETS, LLC & SUBSIDIARIES (An indirect wholly-owned subsidiary of Royal Bank of Canada) (SEC I.D. No )
... At October 31, 2020, the Company pledged $6.3 billion, of which $1.9 billion can be sold or repledged to counterparties with re-hypothecation rights and is parenthetically disclosed in [r] ...
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On the mathematical form of CVA in Basel III
... of counterparties it can be questioned whether the present Basel III CVA form with α = 0 is the best possible capital charge in a regulatory framework for more resilient ...certain counterparties and will ...
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Restructuring Failed Financial Firms in Bankruptcy: Selling Lehman’s Derivatives Portfolio
... because counterparties call a default and, due to their exemption from ipso facto rules, can do so for safe harbored ...some counterparties would be better off if they benefited from a stand-alone ...
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Hedge funds: a central bank perspective.
... Probably the most important line of defence in containing potential risks to stability is adequate market discipline, which, in turn, requires hedge funds to be suffi ciently transparent. There are doubts as to whether ...
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The Lehman Brothers Bankruptcy F: Introduction to the ISDA Master Agreement
... of counterparties terminating their derivatives transactions pursuant to the provisions of the Master Agreement may have created difficulties for Lehman, those counterparties who opted not to terminate also ...
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Internalization, Clearing and Settlement, and Stock Market Liquidity 1
... which counterparties she wants to address: (i) by posting a lower bid ...attracts counterparties from the same broker implying a higher payo¤ with a lower execution probability, whereas (ii) by posting a ...
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