January 13, 2013 
Background
Broadly, the term ‘financial market infrastructure’ (“FMI”) refers to:
- central counterparties (“CCPs”);
- payment systems;
- central securities depositories;
- securities settlement systems; and
- trade repositories.
FMIs contribute to maintaining and promoting financial stability. However, they also concentrate risk and their disorderly failure could have systemically important consequences. This brings into focus the issues of how to determine the systemic significance of an FMI as well as the design of recovery and resolution (“RRP”) regimes for FMIs that are determined to be systemically important.
Useful summary of where planning for a CCP default is at. No simple answers mind you.
Amir Khwaja
Ben Larah
Michael Beaton
corinaki24
Jon Skinner
Mihir Vaidya
Maria Leontiou
Martin Schuhmayer
samihodgson
Bill Hodgson
Tom Riesack
Reblogged this on Carl A R Weir's Blog.