Systemic Risk (1) 썸네일형 리스트형 Systemic Risk in Markets with Multiple Central Counterparties/ (22-11-21).BIS We provide a framework for modelling risk and quantifying payment shortfalls in cleared markets with multiple central counterparties (CCPs). Building on the stylised fact that clearing membership is shared among CCPs, we show how this can transmit stress across markets through multiple CCPs. We provide stylised examples to lay out how such stress transmission can take place, as well as empirical.. 이전 1 다음