TITLE

THE TRILLION DOLLAR QUESTION: CAN A CENTRAL BANK BAIL OUT A CENTRAL COUNTERPARTY CLEARING HOUSE WHICH IS "TOO BIG TO FAIL"?

AUTHOR(S)
Chamorro-Courtland, Christian
PUB. DATE
March 2012
SOURCE
Brooklyn Journal of Corporate, Financial & Commercial Law;Spring2012, Vol. 6 Issue 2, p433
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The article analyzes if a central bank can bail out a central counterparty clearing house which is too big to fail. The purpose and functions of central counterparties (CCPs) are explained. The significance of CCPs and their inherent risks are discussed. It also describes the default procedures typically used by CCPs.
ACCESSION #
82192006

 

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