Such an assessment is critical in enabling a resolution authority to develop a credible CCP resolution strategy and in informing its decision on whether or not to place a CCP in resolution. A specific challenge in this context is the lack of granular data on central clearing interdependencies due to the strict confidentiality of data on the exposures of individual participants.
There is no need – or mandate – for supervisors to interfere with these market forces. What we can and should do is to finalise the reform progress that began in 2008, and to do so soon. And we will make sure that banks are put under close supervisory scrutiny.