Ross - US model provides insufficient protection for CCPs
Verena Ross, executive
director at the European Securities and Markets Authority
(Esma), has called on US authorities to "reflect further on the
benefits" of Europe’s clearing margin rules in
order to resolve the ongoing clearing house equivalence
Speaking at an FIA
conference in London, on Tuesday, Ross said US clearing house
margin rules, based on one-day period of risk, provides
insufficient protection for central counterparties (CCPs)
during events such as the Lehmann Brothers default.
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