Depositories ponder size of capital requirements for AIFMD liability

Capital punishment

aifmd-0913

The decision four years ago by Group of 20 leaders to require all standardised derivatives to be cleared through central counterparties (CCPs) prompted regulators to think hard about the implications for bank capital. Clearing members are required to contribute money to each CCP’s default fund, but this could be lost in the event of the default of another clearing member and its clients. Worse, the bank might be called upon to top up its contribution – an exposure regulators felt could not be ig

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