This story appeared in Bank Digest.
The Office of Finance Research has posted a Viewpoint paper entitled "New Public Disclosures Shed Light on Central Counterparties." The Viewpoint indicates that reforms after the financial crisis promoted the use of central counterparties, or CCPs, which stand between the two parties to a derivatives contract. According to new data, CCPs hold enough resources to handle the failure of two members, and those resources are highly liquid and of high credit quality. Still, data gaps remain.