Limiting Taxpayer "Puts" - An Example from Central Counterparties

Limiting Taxpayer "Puts" - An Example from Central Counterparties
Nonbanks such as central counterparties (CCPs) are a useful lens to see how regulators view the role of the lender-of-last-resort (LOLR). This paper explores the avenues available when a nonbank failure is likely, specifically by considering the options of keeping CCPs afloat. It is argued that CCPs have, by regulatory fiat, become “too... READ MORE...

Publication date: November 2014
ISBN 9781498322423
$18.00

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