BoE's Tucker warns about clearinghouse failures

04/22/2013 | Bloomberg · Wall Street Journal, The

Paul Tucker, deputy governor of the Bank of England, wants regulators to have "power to take control of a central counterparty that is no longer viable, or doomed to become unviable". Tucker says such authority is crucial to maintaining financial stability. "The system will not be resilient unless the CCPs themselves are safe and sound and capable of orderly resolution," Tucker said.

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Bloomberg · Wall Street Journal, The

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