At the start of the Covid-19 crisis, financial markets experienced an abrupt ‘dash for cash’. Central counterparties (CCPs) were resilient in the face of stress. However, clearing is still a relatively new area of post-crisis reforms. Regulators across the globe will need to coordinate regulation and supervision to ensure that CCPs are functioning as they should be, that regulations are based upon what is best for the financial system and economy, and that financial market infrastructure can thrive. Christina Segal-Knowles, executive director for financial market infrastructure at the Bank of England, will discuss the questions at hand and the international coordination needed to tackle some of these challenges.
Christina Segal-Knowles, Executive Director for Financial Market Infrastructure (FMID), Bank of England