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RBA Glossary definition for CCP

CCP – Central counterparty

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Videos | Education

4 May 2023
And it's a bit like the standard line about the 60s that those who can remember the GFC probably weren't there. ... So, markets regularly recorded, to quote, 25 standard deviation events in the words of then Goldman CFO David Viniar.
https://www.rba.gov.au/education/resources/videos.html

CCPs and Banks: Different Risks, Different Regulations

15 Dec 2015 Bulletin December Quarter 2015 PDF 159KB
https://www.rba.gov.au/publications/bulletin/2015/dec/pdf/bu-1215-8.pdf

2016

6 Oct 2022 Bulletin
Insights into the economy and financial system from teams throughout the Reserve Bank of Australia
https://www.rba.gov.au/publications/bulletin/2016/

Contagion Analysis

29 Sep 2015 RDP 2015-02
Alexandra Heath, Gerard Kelly and Mark Manning
i). (ii). (iii). (iv). Price change (standard deviations). 2.67. 3.89. 3.89. ... VMGH therefore allows for partial payment of variation margin obligations by a CCP.
https://www.rba.gov.au/publications/rdp/2015/2015-02/contagion-analysis.html
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The Australian Financial System

10 Sep 2014 FSR – September 2014
CCPs provide centralised management of counterparty risk to their participants. In Australia there are three licensed CCPs:. ... Given their importance to the financial system, CCPs licensed to operate in Australia must meet Financial Stability Standards
https://www.rba.gov.au/publications/fsr/2014/sep/aus-fin-sys.html

2017

6 Oct 2022 Bulletin
Insights into the economy and financial system from teams throughout the Reserve Bank of Australia
https://www.rba.gov.au/publications/bulletin/2017/

Special Topic on CCP Margin Arrangements | Assessment of ASX Clearing and Settlement Facilities

9 Mar 2023
The Bank's assessment is that ASX Clear ‘observes’ all of the sub-standards in CCP Standard 6: Margin. ... the management of liquidity risk in the CCPs' margin models for exchange-traded derivatives (CCP Standard 6.1).
https://www.rba.gov.au/payments-and-infrastructure/financial-market-infrastructure/clearing-and-settlement-facilities/assessments/2016-2017/special-topic-on-ccp-margin-arrangements.html

Material Developments | Assessment of ASX Clearing and Settlement Facilities

9 Mar 2023
2.1.3 Data and risk systems. CCP Standard 21.2 requires that the ASX CCPs provide detailed information on margining and stress testing to the Bank on at least a ... Taking this progress into account, the Bank's assessment is that each of the ASX CS
https://www.rba.gov.au/payments-and-infrastructure/financial-market-infrastructure/clearing-and-settlement-facilities/assessments/2018-2019/material-developments.html

The Australian Financial System

10 Mar 2015 FSR – March 2015
Given their importance to the financial system, CCPs licensed to operate in Australia must meet Financial Stability Standards (FSS) determined by the Reserve Bank, which are based on the internationally agreed ... The FSS for CCPs impose requirements on
https://www.rba.gov.au/publications/fsr/2015/mar/aus-fin-sys.html

Standard 7: Liquidity Risk | Financial Stability Standards for Central Counterparties December 2012

9 Mar 2023
and close out activities as directed by the central counterparty's participant default procedures (see CCP Standard 7.8 on liquidity stress testing). ... Cash balances at the central bank of issue, for example, offer the highest liquidity (see CCP
https://www.rba.gov.au/payments-and-infrastructure/financial-market-infrastructure/clearing-and-settlement-facilities/standards/central-counterparties/2012/standard-7.html