whatsapp “The failure of a CCP would have a significant impact on financial stability. It is essential that authorities have effective resolution planning arrangements in place, including legal powers and tools to take action in a crisis.”The FSB said it will undertake further work to ensure financial resources are in place for resolution and will decide next year whether more guidance is needed on the issue. Read more: Why the FSB thinks anti-money laundering rules need a rethinkClearing houses, which sit between two sides of financial trades and ensure deals are completed if one side defaults, have grown in recent years, with new clearing rules introduced since the financial crisis.The FSB, an international body whose current chair is Mark Carney, today set out how regulators should be able to close failing clearing houses.“CCPs are an integral part of the financial system and play an important role in mitigating risks to the financial system. They have grown substantially over the last years,” said Elke Konig, chair of the FSB resolution steering group and European single resolution board.Read more: Carney reaffirms Brexit not the biggest risk to UK’s financial stability The Financial Stability Board (FSB) has set out proposals for new rules around “living wills” for clearing houses to ensure they do not become a new source of “too-big-to-fail risk”.The blueprint, published today, is designed to ensure that collapsing clearing houses, or CCPs, do not cause further damage to the financial system and are not the subject of taxpayer bail-outs. Wednesday 1 February 2017 5:50 pm whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsUndoLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoWolf & ShepherdNFL Star Rob Gronkowski’s Favorite ShoesWolf & ShepherdUndoAll Things Auto | Search AdsNew Cadillac’s Finally On SaleAll Things Auto | Search AdsUndoCarsGeniusThese 4 Loaded SUVs Are Now Dirt CheapCarsGeniusUndoTaco RelishSuspicious Pics That Are Fishier Than The SeaTaco RelishUndoDental Implant Info | Search AdsDental Implant Costs In 2021 Might Almost Be UnbelievableDental Implant Info | Search AdsUndo Financial Stability Board sets out plans to minimise “too-big-to-fail” clearing house risk Read This NextIf You’re Losing Hair in This Specific Spot, It Might Be a Thyroid IssueVegamourTop 5 Tips If You’re Losing Your EyebrowsVegamour20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The WrapMore People Now Use YouTube Than Facebook or Instagram – What Happened?The WrapNFL nixes Pittsburgh Steelers’ training camp plan; team to train inSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapWhat Causes Hair Loss? Every Trigger ExplainedVegamourHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapSmoking and Hair Loss: Are They Connected?Vegamour William Turvill Share

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