BlackRock adds to clamour for more CCP capital

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

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

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