Central bank support for CCPs and TRs
Fixing the financial system 'plumbing' poses challenge for central banks
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One of the main lessons that can be drawn from the global financial crisis is that systemic risk is exceedingly dangerous and closely linked with complexity, homogeneity and opacity in the financial system – the main drivers of financial fragility. The crisis also highlighted the important role that financial market infrastructures (FMIs) played, and can play in the future, in mitigating financial fragility and systemic risk.
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