Another issue with regard to governance is that today it is typical of our cooperative banks where the creditors have a big say in the governance; depositors have very little stake and they need to be empowered appropriately. This will ensure that they have a direct bearing on how well their moneys are managed. Conclusion 49.
There is a growing consensus amongst regulators as well as market participants that there has to be a Central Counterparty (CCP) mechanism for clearing and settlement of OTC derivative transactions as well as mandated reporting of OTC derivatives trades to designated trade repositories.