The ability of clearing members to measure and manage their potential exposures in CCP resolution is an important aspect not only from a bank supervisory perspective but also from a broader financial stability angle, as it clearly  Banque de France Financial Stability Review No.
I see these potential threats as being caused mostly by maturity and liquidity transformation, the build-up of leverage and credit risk transfer conducted by the shadow banking system. All of those activities are not evil per se, but the ensuing systemic risks need to be contained. All activities must be made transparent, in particular vis-à-vis supervisory authorities, and they must be adequately regulated.