All these examples suggest that if we change the rules now about banking and commerce under circumstances of uncertainty about future synergies between finance and nonfinance, we might end up doing more harm than good. And, as with all rule changes by government, we are likely to find it impossible to correct our errors promptly.
The significant being the need for Cover 2 requirements both for liquidity and credit risks for systemically important CCPs which are operating in multiple jurisdictions/currencies and which deal in asset classes with “jump to default” risk profile in recognition of the increased risk posed by such CCPs.