CCP stress-test rifts emerge as review gets underway
Banks, clearing houses and regulators all divided on question of standardised tests
After grumbling for months about flaws in the way clearing houses set their default resources – through stress tests subject to high-level principles – market participants finally persuaded regulators to roll up their sleeves and take a look.
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (Iosco) established a working group to examine stress-testing practices at central counterparties (CCPs) last October, and a formal
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