Dealers worry about risk of $500bn overnight liquidity drain

Banks fear being tapped

Dealers are concerned that a principle they claim could drain $500 billion from the financial system overnight will remain in the final set of guidelines for central counterparties (CCPs) and other market infrastructures.

The Committee on Payment and Settlement Systems (CPSS) and technical committee of the International Organization of Securities Commissions (Iosco) published a consultation paper on principles for financial market infrastructures in March 2011, and a final version is expected to

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