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Financial Market Infrastructure: Too Important to Fail

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  • Darrell Duffie

Abstract

This paper argues that failure resolution cannot yet be safely applied to certain firms that operate key financial market infrastructures used for clearing over-the-counter derivatives or tri-party repurchase agreements.

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  • Darrell Duffie, 2014. "Financial Market Infrastructure: Too Important to Fail," Economics Working Papers 14101, Hoover Institution, Stanford University.
    • Handle: RePEc:hoo:wpaper:14101
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    References listed on IDEAS

    as
    1. Elliott, David, 2013. "Financial Stability Paper No 20: Central counterparty loss-allocation rules," Bank of England Financial Stability Papers 20, Bank of England.
    2. William Dudley, 2012. "Reforming the OTC derivatives market," Speech 77, Federal Reserve Bank of New York.
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    Cited by:

    1. Sylvain Benoit & Jean-Edouard Colliard & Christophe Hurlin & Christophe Pérignon, 2017. "Where the Risks Lie: A Survey on Systemic Risk," Review of Finance, European Finance Association, vol. 21(1), pages 109-152.

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