ECB opinion on derivatives reform spurs debate on CCP liquidity resilience
French authorities welcome ECB's call for the resilience of central bank money to be recognised in EU derivatives legislation.
European regulators have welcomed a European Central Bank (ECB) paper that favours giving central counterparties (CCPs) access to central bank funds in order to clear over-the-counter derivatives.
In an official opinion on the European Commission's (EC) proposed regulation on OTC derivatives, CCPs and trade repositories, dated January 13 and signed by ECB president Jean-Claude Trichet, the bank suggests a crucial change to article 10 of the proposed text, which rules CCPs must have access to
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