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The Bank for International Settlements, Basel
The Financial Stability Board has laid out a global standard to govern how authorities prepare to resolve central counterparties (CCPs) whenever they fail.
The FSB launched a consultation on the standard today (September 19), building on its previous work to boost the resilience and recoverability of CCPs. Under the proposed framework, authorities must be able to deploy a range of tools and tap into various resource pools if a CCP fails. Using any one option in isolation is likely to come with
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