FIA, along with the International Swaps and Derivatives Association and the Institute of International Finance, has commented on CCP recovery and resolution issues in response to a consultation paper published by the Financial Stability Board, the Committee on Payments and Market Infrastructures of the Bank for International Settlements and the International Organization of Securities Commissions.
In their response to the consultation paper, "Central Counterparty Financial Resources for Recovery and Resolution," the associations welcomed findings that CCPs were resilient overall. However, they noted that "the consultation paper focusses disproportionately on loss allocation tools to clearing participants and does not emphasize sufficiently the role of CCPs’ own financial resources," among other things.
Download the associations' joint response here.
- CCP Recovery and Resolution
- CCP Risk