Lack of clarity over clearing provides problems for Asia banks

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Banks in Asia are facing a succession of operational challenges as they move to centrally clear over-the-counter derivatives transactions. Domestic regulations governing the central clearing of OTC derivatives trades are yet to be finalised; there is uncertainty over whether banks should clear via an international or domestic central counterparty (CCP); and a proliferation of CCPs within the region is adding to the confusion.To date, Japan is the only country to have mandated through law cent