The Association of European Clearing Houses is fully supportive of including a clause which stipulates the exclusion by resolution authorities of liabilities arising from derivatives cleared and settled through an authorised central counterparty.
In its regular monthly meeting on June 7, 2013, EACH discussed the recent plans to amend certain elements of the banking recovery and resolution framework. The association of European clearing houses is fully supportive of including a clause which stipulates the exclusion by resolution authorities of liabilities arising from derivatives cleared and settled through an authorised central counterparty.
"This important exclusion prevents potential damage to the stability of CCPs and consequently to the financial system and is consistent with the default management procedures in EMIR", explained Marcus Zickwolff, Chairman.
The members of the association also confirmed the replacement of Rory Cunningham, LCH Clearnet, by his colleague Perrine Herrenschmidt, Head of Public Affairs, LCH Clearnet.
Full press release
© EACH - European Association of Central Counterparty Clearing Houses
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article