Dealers Demand Clearing Houses Draw Up 'Living Wills'
By Michelle Price
Published July 31 2011 Financial News
Dealers and clearing experts have urged regulators to introduce so-called living wills for clearing houses, warning that a "credible" plan for unwinding critical pieces of market infrastructure is "vital to financial stability". The comments come amid growing fears that the US government's inability to raise its debt ceiling could prompt a global credit event.
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