of losses and the question of whether and how to provide for continuity of clearing services. I discuss how one might …

We explore the impact of central clearing on the demand for collateral arising from variation margin calls in the … cleared. Hence, at least in this respect, increasing the scope of central clearing is not always beneficial. Previous work … central clearing kick-in only when a sufficiently large portion of the market has moved to central clearing …

Counterparty Clearing has become increasingly popular in Europe, not just in derivatives markets, where, due to the high risk … the increased sophistication in clearing arrangements is the ongoing process of European economic integration, ie the euro … pan-European financial infrastructure for payments and securities clearing and settlement. Central counterparty clearing …

Counterparty Clearing has become increasingly popular in Europe, not just in derivatives markets, where, due to the high risk … the increased sophistication in clearing arrangements is the ongoing process of European economic integration, ie the euro … pan-European financial infrastructure for payments and securities clearing and settlement. <p> Central counterparty …

severe, also requires default funds and then imposes position limits. -- Central Counterparty ; Clearing; Default …

clearinghouse that acts as a seller to every buyer and a buyer to every seller. Proponents of central clearing argue that this … benefits of central clearing are manifest, the downsides are less obvious; clearinghouses concentrate risk and pose enormous … access to central bank credit is crucial, particularly when central clearing of volatile CDSs is required …

This paper studies the optimal clearing arrangement for bilateral financial contracts in which an assessment of …, at a cost, about the commitment of their borrowers, which affects the assessment of counterparty risk. Clearing through a … and reveal information. If information acquisition is incentive‐compatible, then lenders choose central clearing. If it is …

Following the 2008 financial crisis, regulation mandates the clearing of the CDS market through Central Clearing …

Bilateral financial contracts typically require an assessment of counterparty risk. Central clearing of these financial … and to reveal information about such risk. When considering this trade-off, participants would choose central clearing if … information acquisition is incentive compatible. If it is not, they may prefer bilateral clearing, when this choice prevents …