Sovereigns and OTC Derivatives Clearing: the rules are a mess. We look at an excellent paper from BNYM.
Singh and Stella on the velocity of collateral: banks just don't trust each other. We think there is more to it.
“Replumbing Our Financial System: Uneven Progress” by Darrell Duffie: turn tri-party clearing into a "dedicated regulated utility"
Satyajit Das, author ‘Extreme Money: The Masters of the Universe and the Cult of Risk’ talks to the FT on CCPs
Bank of England's Tucker: "There is a big gap in the regimes for CCPs – what happens if they go bust? I can tell you the simple answer: mayhem."