Without a clear picture of a CCP’s risk profile, clearing members cannot make informed decisions about whether to clear with a particular CCP or how to judge their exposures to it. All major stakeholders – clearing members, clients, regulators, and the broader market – should be aware of the risks involved so that they can take appropriate steps to mitigate them.
Richard H. Clarida, “ The Federal Reserve’s Review of Its Monetary Policy Strategy, Tools, and Communication Practices ,” remarks at the 2019 U.S. Monetary Policy Forum, sponsored by the Initiative on Global Markets at the University of Chicago Booth School of Business, New York, New York, February 22, 2019.