Wellink: OTC markets still need good risk management systems
Nout Wellink, the chairman of the Basel Committee on Banking Supervision and the president of De Nederlandsche Bank, writes in an article published in the Banque de France's July 2010 Financial Stability Review that regulators will still need to continue mitigating systemic risks arising in over-the-counter (OTC) derivatives markets once new clearing systems are in place.
Wellink says the financial crisis demonstrated that turmoil in OTC derivative markets can exacerbate financial distress, and
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