Risk USA: Few options to manage CCP exposure, says RBS chief credit officer

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Banks need to think about their growing exposure to central counterparties (CCPs) and consider what will happen in the event of a clearing house default, but there are no obvious options available to dealers to manage this risk, according to Lesley Jones, group chief credit officer at Royal Bank of Scotland (RBS).

That is the conclusion of analysis carried out at RBS, which has been discussed among the bank's business and risk heads.

"We laid out some scenarios and then talked about what the

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