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The Goldilocks Problem: How To Get Incentives And Default Waterfalls
Sunday, March 19, 2017 4:09
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from the Chicago Fed
– this post authored by John W. McPartland and Rebecca Lewis
Introduction and summary
Regulatory reforms in the wake of the 2007-08 financial crisis have increased the focus on the systemic importance of central counterparties (CCPs), which guarantee the performance of their clearing members’ financial contracts.[1] This, in turn, has increased policymakers’ and practitioners’ focus on risk management at CCPs.
Source: http://econintersect.com/pages/contributors/contributor.php?post=201703190552
