More CCPs would not avert US Treasuries crisis – BIS study
However, economists say central clearing could still improve market functioning
Centrally clearing more trades in the US Treasuries market could bring benefits but would not stop a severe market crisis, according to economists at the Bank for International Settlements (BIS).
In a bulletin article published on September 19, Matteo Aquilina, Martin Scheicher and Andreas Schrimpf say that although US government bonds have traditionally been seen as safe havens, they have more recently become “focal points of market stress”. The authors explore a possible move to greater use of
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