Central Banking

Chicago's Moskow on central counterparty clearing

In the speech 'Public policy and central counterparty clearing' given on 4 April Michael Moskow of the Federal Reserve Bank of Chicago said new clearing arrangements are emerging all the time.

"Such arrangements may provide a wide range of risk management and operational functions, either with or without counterparty substitution.10 I expect that such arrangements will continue to evolve as financial innovation, supported by advances in computing and communications technology, continues unabated

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