CCP resolution scenarios cannot be defined in absolute, quantitative terms given the nature of market events causing resolution. There will always be considerable uncertainty around CCP resolution and related funding needs. Nevertheless, further steps should be taken to improve the analytical foundation of CCP resolution planning and to better prepare authorities.
But we were also fortunate in Australia that the boom in commodity prices and substantial rise in the terms of trade through the 2000s produced a very favourable economic environment at a time when many of the major economies moved into recession.