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A new report released by the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) outlines proposed changes to disclosure standards for central counterparty clearinghouses (CCPs), officials say.
The paper, “Public Quantitative Disclosure Standards for Central Counterparties,” argues that “to help ensure that the risks of using central counterparties are properly understood, CCPs need to make relevant information publicly available,” according to a CPMI and IOSCO release.
The new guidelines outlined in the paper are intended to complement the CPSS-IOSCO’s 2012 “Principles for Financial Market Infrastructures.” The proposals in the most recent paper, taken together with the 2012 framework, are intended to “help stakeholders, including authorities, participants (direct, indirect and prospective) and the public,” to:
- Compare CCP risk controls, including financial resources to withstand potential losses;
- Have a clear and accurate understanding of the risks associated with a CCP;
- Understand and asses a CCP’s systemic importance and its impact on systemic risk;
- And understand and assess the risks of participating directly in a CCP.
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