Central clearing a tricky fix for over-the-counter derivatives
Central clearing might solve some of the problems with over-the-counter derivatives, but it is by no means a straightforward solution, and could raise some additional problems
Within the overall review of the causes of the global financial turmoil, the failures of AIG and Lehman Brothers cast over-the-counter (OTC) derivatives, incorrectly, as Public Enemy No. 2 (after securitised US subprime debt) for their perceived lack of transparency and lack of prudential regulation. As a result, the G-20 has stipulated that all standardised OTC derivatives should be cleared
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