Geithner turns up the heat in central counterparty debate

The US Treasury has called on Congress to amend the Commodities Exchange Act (CEA) to compel the "clearing of all standardised over-the-counter derivatives through regulated central counterparties". In a letter to Senate majority leader Harry Reid, Treasury secretary Timothy Geithner wrote that financial regulators will need to take steps to ensure that central counterparties (CCPs) impose robust margin requirements and other necessary risk controls "to ensure that customised OTC derivatives