OTC derivatives reform contains ‘real world challenges' says Fed governor
Increased central clearing and margins for non-cleared derivatives are "foundational elements" of a global programme to make the over-the-counter derivatives market infrastructure a "pillar of strength in the next crisis", Federal Reserve governor Jerome Powell told the Clearing House 2013 Annual Meeting in New York today.
The recent financial crisis, Powell said, "revealed significant flaws in the structure of the OTC derivatives markets that are now being addressed". However, implementation of
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