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US SEC adopts rule, amendments to improve risk management, resilience of covered clearing agencies

( October 25, 2024, 21:05 GMT | Official Statement) -- MLex Summary: Covered clearing agencies that provide central counterparty services will be required to have policies and procedures to establish a risk-based margin system that monitors intraday exposures on an ongoing basis, that includes the authority and operational capacity to make intraday margin calls as frequently as circumstances warrant, and that documents when the covered clearing agency determines not to make an intraday call pursuant to its written policies and procedures, under a new rule adopted by the US Securities and Exchange Commission. The amendments aim to improve the resilience and recovery and wind-down planning of covered clearing agencies.Statement follows in full. Also see document below. ...

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