000001177 001__ 1177
000001177 005__ 20250211155759.0
000001177 0247_ $$2DOI$$a10.34989/sdp-2011-4
000001177 035__ $$a10.34989/sdp-2011-4
000001177 041__ $$aeng
000001177 084__ $$aG Financial Economics$$03122
000001177 084__ $$aG0 General$$03123
000001177 084__ $$aG01 Financial Crises$$03125
000001177 084__ $$aG1 General Financial Markets$$03126
000001177 084__ $$aG14 Information and Market Efficiency; Event Studies; Insider Trading$$03131
000001177 084__ $$aG18 Government Policy and Regulation$$03134
000001177 084__ $$aG2 Financial Institutions and Services$$03136
000001177 084__ $$aG28 Government Policy and Regulation$$03142
000001177 084__ $$aG3 Corporate Finance and Governance$$03144
000001177 084__ $$aG38 Government Policy and Regulation$$03151
000001177 245__ $$aLessons from International Central Counterparties: Benchmarking and Analysis
000001177 260__ $$bBank of Canada
000001177 269__ $$a2011
000001177 300__ $$a1 online resource (iii, 37 pages)
000001177 336__ $$aText
000001177 347__ $$bPDF
000001177 520__ $$aSince the financial crisis, attention has focused on central counterparties (CCPs) as a solution to systemic risk for a variety of financial markets, ranging from repurchase agreements and options to swaps. However, internationally accepted standards and the academic literature have left unanswered many practical questions related to the design of CCPs. The author analyzes the inherent trade-offs and resulting international benchmarks for a certain set of issues. Four CCPs – FINet, CME Clearing, Eurex Clearing and LCH.Clearnet – are considered in terms of risk management, CCP links, governance and operational risk.$$7Abstract
000001177 520__ $$aDepuis la crise financière, l’attention se porte sur les contreparties centrales, car ces entités permettraient d’abaisser le risque systémique associé à divers marchés financiers, dont ceux des pensions, des options et des swaps. Néanmoins, de nombreuses questions pratiques liées à leur conception ont été ignorées jusqu’à maintenant dans les normes internationalement reconnues et la littérature. L’auteur analyse les arbitrages inhérents à un certain nombre de questions ainsi que les critères de comparaison internationaux qui en résultent. Quatre contreparties centrales, à savoir FINet, CME Clearing, Eurex Clearing et LCH.Clearnet, sont étudiées sous les angles de la gestion du risque, des liens entre contreparties centrales, de la gouvernance et du risque opérationnel.$$7Résumé
000001177 540__ $$aCreative Commons Attribution 4.0 International$$uhttps://creativecommons.org/licenses/by/4.0/legalcode$$fCC-BY-4.0
000001177 6531_ $$aFinancial markets
000001177 6531_ $$aFinancial stability
000001177 6531_ $$aFinancial system regulation and policies
000001177 6531_ $$aPayment clearing and settlement systems
000001177 6531_ $$aMarchés financiers
000001177 6531_ $$aStabilité financière
000001177 6531_ $$aRéglementation et politiques relatives au système financier
000001177 6531_ $$aSystèmes de compensation et de règlement des paiements
000001177 7001_ $$aLazarow, Alexandre
000001177 789__ $$w1914-0568$$2ISSN$$eIsPartOf
000001177 8301_ $$aStaff Discussion Paper
000001177 8301_ $$aDocument d’analyse du personnel
000001177 8564_ $$uhttps://www.oar-rao.bank-banque-canada.ca/record/1177/files/dp2011-04.pdf$$9210b3fc2-46b2-4088-9331-9b4815bf77d5$$s530368$$zFile Source: Bank of Canada website, 2024
000001177 909CO $$ooai:www.oar-rao.bank-banque-canada.ca:1177$$pbibliographic
000001177 980__ $$aStaff Research
000001177 980__ $$aRDM
000001177 991__ $$aPublic