BIS-IOSCO Report Calls for Clearing Houses to Set Out Recovery Plan
The report, first issued for consultation in August 2013, states that all systemically important financial market infrastructures—with a special focus on CCPs—should have a comprehensive and effective recovery plan as required by the CPSS-IOSCO Principles for Financial Market Infrastructures (PFMI), and lists a number of tools institutions could leverage when deemed to be at risk.
"A CCP should have additional tools in place that allow it to re-establish a matched book," the report says. "These
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