Swaps Clearing Faces Tougher Rules to Avert Too-Big-to-Fail

  • Regulators find ‘shortcomings’ in clearinghouse recovery plans
  • Financial Stability Board advances plans for firms’ resolution

Global regulators proposed tougher standards for clearinghouses at the heart of the $493 trillion derivatives market, taking some of the biggest steps yet to prevent the platforms from becoming too big to fail.

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