CFTC urged to raise bar for CCP stress tests

Darrell Duffie - Stanford University
Darrell Duffie

Regulators in the US are in danger of giving central counterparties (CCPs) too much leeway to manage their risks, according to critics of proposals issued by the Commodity Futures Trading Commission (CFTC). CCPs are set to assume a crucial role in the global financial system after the Group of 20 nations committed to have all standardised over-the-counter derivatives cleared by the end of 2012 – and some dealers worry the CFTC is not being demanding enough.

"Certain regulatory minimums need to b

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