In a report issued in August 2016, CPMI-IOSCO (2016b) reviewed the financial risk management and recovery practices at a sample of ten CCPs – including a mix of globally active and more regionally focused ones – that provide clearing services for derivatives in nine jurisdictions.
The report underlined that while CCPs have made progress in developing frameworks in line with the PFMI, there are a number of shortcomings that should be addressed, notably in the areas of recovery planning and credit and liquidity risk management.