ECB’s Cœuré warns CCPs could become ‘too big to fail’
Executive board member questions systemic effects of mandatory clearing
Benoît Cœuré, a European Central Bank (ECB) executive board member, warned that central counterparties (CCPs) may become "too big to fail" if the trend towards increasingly large global CCPs continues.
Cœuré, speaking at a meeting on the global economy and financial system hosted by the University of Chicago Booth School of Business Initiative on Global Markets, said the systemic effects of central clearing were "undoubtedly positive" on balance, but argued that "some of them are ambiguous and
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