While it is not possible to say with confidence what would have happened if these measures had not been taken, it is surely the case that whatever pressures CCPs faced would have been many times greater, and the potential consequences much greater as well.
Moreover, as CCPs grow into their enhanced role in the financial system, they will represent an ever larger locus for systemic risk. It is therefore important not to be lulled into a false sense of security that past performance is a guarantee of future CCP success.