ARTICLE
11 February 2019

Associations Respond To FSB Paper On Recapitalization Of CCP In Resolution

CW
Cadwalader, Wickersham & Taft LLP

Contributor

Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
ISDA, FIA and the Institute of International Finance responded to issues concerning central counterparty ("CCPs") resolution raised in a discussion paper published by the Financial Stability Board ("FSB").
United States Finance and Banking

ISDA, FIA and the Institute of International Finance responded to issues concerning central counterparty ("CCPs") resolution raised in a discussion paper published by the Financial Stability Board ("FSB"). The comment letter addresses CCP equity, the amount of "skin in the game" a CCP should be required to maintain (that is, the amount of losses it must absorb before imposing losses on clearing members), and the rules that should govern "No Creditor Worse Off than in Liquidation" claims in the event that a CCP is resolved rather than being liquidated.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More