BlackRock adds to clamour for more CCP capital

Firm's co-founder says oversight of clearing houses also must be tougher

BlackRock
BlackRock headquarters

BlackRock's co-founder Barbara Novick says oversight of central counterparties (CCPs) is not strict enough, and has called for them to hold more capital.

Speaking at the Sibos conference in Boston on October 1, Novick said the regulatory framework governing central clearing of derivatives "still needs some work".

"We have created utilities. But unlike banks that have capital requirements and stress testing, the oversight of the CCPs is not sufficient. They don't have sufficient capital. They are

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: