American Banker
August 13, 2013
Since the financial crisis, global regulators have been pushing to have as many over-the-counter derivative products as possible cleared with central counterparties, to improve transparency and minimize operational and credit risks.
As a result, volumes and revenues have significantly increased at these clearing houses. The regulators’ intentions are good, but in my experience, anytime business surges at any institution, risk managers and supervisors should be paying much more attention to the firm’s increased operational risk…Read More