Canada deputy urges pension funds to join clearing service
Says central counterparties reduce exposures and systemic risk
The Bank of Canada is encouraging some of the largest and most active pension funds in the Canadian repo market to become direct clearing members of the Canadian Derivatives Clearing Service (CDCS), a central counterparty, the bank's deputy governor Lawrence Schembri said yesterday during a speech in Quebec.
"For repo and derivatives transactions, central counterparties reduce common counterparty exposures and systemic risk," Schembri said. "The goal is to allow the large pension funds to
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