Over the last two decades, the country has weathered just as many financial crises—the Asian financial crisis in the late 90s, and the global financial crisis in the late 2000s. Throughout this period, the country managed to register 72 consecutive quarters of output expansion. To put things into perspective, we are referring to a span of 18 years.
(i) Central counterparties CCPs are systemically relevant. They have been in the focus of regulators and central banks since the financial crisis. The growth in central clearing makes CCPs nodes for risk in the system. This is why we have carried out considerable work at international level to promote that they operate in a safe and resilient manner.