demand of new margin and clearing practices and regulations. We decompose collateral demand for both customers and dealers … impact on collateral demand of more widespread initial margin requirements, increased novation of CDS to central clearing … parties (CCPs), an increase in the number of clearing members, the proliferation of CCPs of both specialized and non …

central clearing, as intended. We introduce a model of OTC clearing to compare the total capital and collateral costs when … bilateral and central clearing; (ii) the margin period of risk used to set initial margin and capital requirements; and (iii … clearing and, when it does, the incentive may be driven by questionable differences in CCPs' default waterfall resources. We …

central clearing, as intended. We introduce a model of OTC clearing to compare the total capital and collateral costs when … bilateral and central clearing; (ii) the margin period of risk used to set initial margin and capital requirements; and (iii … clearing and, when it does, the incentive may be driven by questionable differences in CCPs' default waterfall resources. We …

of scale. From a European perspective, it should be noted that the clearing of euro-denominated OTC derivatives mainly …

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

of scale. From a European perspective, it should be noted that the clearing of euro-denominated OTC derivatives mainly …