Entries tagged "clearinghouse"
Regulators have begun fast-tracking the process for setting up a a single or group of counterparties for the swaps.
Initial efforts by the European Union to create a clearinghouse for credit default swaps collapsed Tuesday, after the bloc's executive European Commission couldn't work out the kinks in a draft agreement put together in December....
There has been a lot of debate over the lack of transparency in the credit default swaps market. In this episode of Inside The Deal, Suzanne Stevens speaks with Paul, Hastings, Janofsky & Walker LLP partner Robert Claassen about the creation of a central clearinghouse for CDSs and the implications the initiative would have for the broader market. Check out the video after the break.- Maria Woehr...
On Friday, 16 participants in the swaps business released a letter to the Federal Reserve Bank of New York, pledging to do more to reduce volumes of outstanding swaps and to start clearing trades through a central clearinghouse by November or December. The New York Fed responded by saying it was pleased with the progress made toward safer trading practices. ...
The creation of a clearinghouse for credit default swaps is moving right along as the New York Federal Reserve is giving those vying to run it until Oct. 31 to submit written proposals on how they would reduce the systemic risk presented by the $55 trillion credit swap market, sources tell Bloomberg....
