BoE paper: CCP legal framework may need work
Authors see room for improvement in some cases
Areas of the legal framework governing how central counterparties (CCPs) handle defaults may need to be buttressed, according to a financial stability paper published today (May 11) by the Bank of England (BoE).
Authors Jo Braithwaite and David Murphy note the legal aspects of how CCPs handle the default of a counterparty are an under-studied area, in Got to be certain: the legal framework for CCP default management processes.
While they find many aspects of the framework are robust, they say
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