Regulatory intervention triggers complicate CCP resolution
Role of supervisors will vary for each situation, say market participants
Uncertainty over the appropriate timing for regulatory intervention could make it impossible to standardise recovery and resolution protocols for clearing houses, say bankers and regulators.
Regulators are currently trying to produce standards for resolution and loss allocation processes for central counterparties (CCPs) in the case of member defaults or operational non-default losses. However, as work progresses, some are coming out in favour of more bespoke approaches, particularly on the
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