Bank of Canada's Lane wants membership of CCPs widened

09/22/2011 | Trade News (U.K.), The

Tim Lane, deputy governor of the Bank of Canada, says membership in global clearinghouses should be expanded or their ability to reduce counterparty risks could be undermined. "It is essential to ensure we do not unduly further concentrate risk in a relatively small number of institutions that are direct clearing members of global CCPs," Lane said. "If we are going to rely on central clearing through large global CCPs, direct access has to be broadened in a manner compatible with ensuring these CCPs have robust risk controls."

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