FSB warned not to overfill its planned CCP resolution toolbox
Network contagion could make cash calls systemically risky, but TLAC also controversial
Market participants have expressed concerns about a resolution toolbox for clearing houses proposed by the Financial Stability Board in September, and in particular warned against the idea that cash calls on clearing members could be used for a very wide range of scenarios.
Marnie Rosenberg, managing director and global head of central counterparty (CCP) credit risk and strategy at JP Morgan, said on November 8 that the FSB should ensure the approach to resolution and recovery at CCPs was
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