Connecting the dots: how DTCC manages contagion risks
Financial institutions must categorise, prioritise and mitigate interconnectedness risks, writes Andrew Gray, group chief risk officer at DTCC
Andrew Gray is a managing director and group chief risk officer at DTCC
As the Lehman Brothers bankruptcy in 2008 demonstrated, the failure of one highly interconnected entity can spread rapidly across the global financial system and have a devastating impact on financial stability.
The level of financial interconnectedness cannot be overstated. Banks and other financial institutions are linked through intermediation chains that span the globe, creating an elaborate web of mutual
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