Firstly, in many countries, central banks are responsible for banking supervision and therefore concerned with the liquidity and solvency problems of individual financial institutions. Even during a systemic crisis, the close connection between central banks and banking supervision has proven to be advantageous owing to synergy effects of micro and macro-prudential analysis.
In 2015, at the request of G20 finance ministers and governors, relevant global standard-setting bodies agreed to further strengthen the safeguards for central clearing with the adoption of the “CCP work plan” (FSB SRC/FSB ReSG/BCBS/ CPMI/IOSCO 2015). The CCP work plan focuses on assessing whether existing international  Banque de France Financial Stability Review No.