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Central Counterparty Margin Frameworks

Author

Listed:
  • Louise Carter

    (Reserve Bank of Australia)

  • Duke Cole

    (Reserve Bank of Australia)

Abstract

A central counterparty's (CCP's) margin framework can affect the activity of market participants and the broader functioning of the financial system. This potential impact on financial stability is an area of focus for authorities – in Australia and overseas – particularly as central clearing has grown in recent years. Additionally, the margin collected by CCPs is the first layer of financial resources held by a CCP to cover counterparty credit risk, so it is critical that a CCP's margining system is effective.

Suggested Citation

  • Louise Carter & Duke Cole, 2017. "Central Counterparty Margin Frameworks," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 84-94, December.
    • Handle: RePEc:rba:rbabul:dec2017-10
    as

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    File URL: https://www.rba.gov.au/publications/bulletin/2017/dec/pdf/bu-1217-10-central-counterparty-margin-frameworks.pdf
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    Citations

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    Cited by:

    1. Boudiaf, Ismael Alexander & Scheicher, Martin & Vacirca, Francesco, 2023. "CCP initial margin models in Europe," Occasional Paper Series 314, European Central Bank.
    2. Injun Hwang & Baeho Kim, 2020. "Heterogeneity and netting efficiency under central clearing: A stochastic network analysis," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 40(2), pages 192-208, February.

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