Europe excluded from CCP talks


The working group was established in July 2009 by the Basel-based Committee on Payment and Settlement Systems (CPSS) and the Madrid-based International Organisation of Securities Commissions (Iosco) to review an outdated set of risk management recommendations for CCPs to reflect the increasing volume of OTC derivatives they are set to clear.

Proposals for reforms to the Basel II framework issued for consultation in December suggest  exposures to CCPs could attract a zero risk weight if the CCP

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