Behnam urges wider CCP access to Fed deposit accounts
CFTC chair says recent market shocks highlight value of Fed accounts; Congressman agrees
Rostin Behnam, chair of the US Commodity Futures Trading Commission (CFTC), has expressed clear support for all central counterparties (CCPs) serving US clients to have access to deposit accounts at the Federal Reserve.
Giving evidence to Congress on March 31, Behnam said his view was shaped by the effects of recent bouts of market volatility, such as those resulting from the introduction of lockdowns to prevent the spread of Covid-19 in March 2020, and the Russian invasion of Ukraine in
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