Correspondent, Chicago
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Nov 7, 2014
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Nov 6, 2014

Fed’s Powell calls for tougher clearinghouse oversight

CHICAGO (Reuters) – Clearinghouses like those operated by CME Group and Intercontinental Exchange should be subject to stricter oversight, including coordinated stress tests, to prevent failure in the face of a financial shock, a top Federal Reserve official said on Thursday.

“Clearing members and regulators needs a more systematic view of what stress tests are performed, at what frequency, with what assumptions, and with what results,” said Fed Governor Jerome Powell, in prepared remarks at the Chicago Federal Reserve.

Nov 6, 2014
Nov 6, 2014
Nov 6, 2014
Nov 6, 2014
    • About Ann

      "Coverage includes Federal Reserve regional banks, U.S. monetary policy, interest-rate futures markets, and financial exchanges and clearinghouses serving the derivatives marketplace, including CME Group."
      Joined Reuters:
      2010
      Languages:
      English, Japanese
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