U.S. Council Seeks To Set Clearinghouse Criteria

The Financial Stability Oversight Council has asked market participants what criteria regulators should use to determine which clearinghouses are systemically important and therefore should be closely monitored by the Federal Reserve, reports Reuters.

The Financial Stability Oversight Council has asked market participants what criteria regulators should use to determine which clearinghouses are systemically important and therefore should be closely monitored by the Federal Reserve. The council, which is led by Treasury Secretary Timothy Geithner and the heads of federal financial regulators, says that it will begin identifying major derivatives clearinghouses once the criteria are finalized.

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