Bloomberg – Fed Fails to Get Swap Users to Accept Clearinghouse Target

The buy side doesn’t want to commit to clearing targets, nor should they have to.  This is about reducing systemic risk, and arguably that comes from the interconnectedness of the dealers.  My comments in the article:

Now, some firms may be having second thoughts, said Kevin McPartland, a senior analyst at Tabb Group in New York. “They want the ability, but on the other hand, they don’t want to be forced” to clear credit swaps, he said.

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