We should not be reticent about recognising the overall progress made since the financial crisis in increasing the safety and resilience of financial market infrastructures in general, and CCPs in particular. 1/3  BIS central bankers' speeches  Nonetheless, there is no room for complacency.
CPMI-IOSCO and other international bodies have been working tirelessly to address the gaps in the global requirements for CCP risk management. Certain jurisdictions are more advanced than others in establishing cooperative oversight arrangements and in inviting relevant authorities from other jurisdictions to participate.