Risk.net poll: CCPs should have access to central bank liquidity

The majority of respondents to an online poll support central bank liquidity access for CCPs, but critics argue this would be likely to lead to the break-up of multi-currency clearers

Central counterparties (CCPs) should have access to central bank liquidity, according to a Risk.net poll. Sixty-six per cent of respondents believe that clearing houses should have access to central bank money as a last resort given the systemically important role they are set to play in the derivatives market.

The Group of 20 nations have pledged to clear standardised over-the-counter derivatives by the end of 2012 – a move that some analysts reckon will result in up to 70% of the $600 trillion