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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.

jean-claude-trichet

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

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ESRB narrows its macro-prudential tools

The European Systemic Risk Board is about to announce a slimmed-down list of potential macro-prudential tools, but who has the power to use them is still the subject of debate. By Michael Watt

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