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10/3/13 - Reform Efforts Focus on Financial Market Utilities

Financial market supervisors and participants are increasingly focusing their attention on financial market utilities, and especially the central counterparties that take on credit risk, as a central element of ongoing reform efforts. At issue is their ability to recover or wind down in an orderly fashion in the face of threats to their viability.

Please click below to a read a Sightlines InFocus by Doug Harris and Pat Parkinson that summarizes five recent regulatory and industry issuances on recovery and wind-down at FMUs, and offers next steps that FMUs and market participants should consider as they prepare for these reforms. The report contains a glossary of common terms, important entities, rules, and regulators, as well as a look at potential loss scenarios and the various recovery tools under consideration.

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