Fed’s Tarullo outlines OTC derivatives reform agenda

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Well-managed central counterparties are key to handling counterparty credit risk, Daniel Tarullo, a governor at the Washington-based Federal Reserve Board, said on Tuesday. In a testimony to the House Financial Services Committee in the US Congress, Tarullo said both central counterparties (CCPs) and trade repositories, which are intended to collect information on all trades in the over-the-counter derivatives markets, supported broader regulatory objectives. "Both... support regulatory overs