Sam Schulhofer-Wohl on Reforms in the Treasury Market and Developments with Central Bank Operating Systems
Macro Musings with David Beckworth
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The Role of Central Clearing in Treasury Markets
This chapter examines the crucial function of central clearing in the treasury market, highlighting its role in enhancing market resilience and transparency. It discusses the mechanics of central counterparties, the benefits of uniform risk management, and the implications of recent regulatory changes. The conversation also addresses concerns about central clearing's limitations while advocating for its importance in fostering a robust financial system.
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