New ways to combat clearing-house risks

Systemic risk in the clearing house

clearing and settlement

“Order, gentlemen, order! ”

The manager often called the attention of the clerks when any disagreement led to heated conversation. It was all part of the daily six-minute clearing procedure, first established in New York in 1853. Clerks from 60 banks tried to confirm payment obligations. Clerks inside a ring shuffled past clerks outside it. Inside clerks reported the total payment their bank owed to the bank of the outside clerk.

In 1858, James Gibbons described in much colour how the New York

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

Switching CCP – How and why?

As uncertainty surrounding Brexit continues and the impacts of Covid-19-driven market volatility are analysed, it is essential for banks and their end-users to understand their clearing options, and how they can achieve greater capital and cross…

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here