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EU proposes rules to stop 'too big to fail' clearing houses
Published Mon, Nov 28, 2016 · 09:50 PM
London
THE European Union has proposed rules for dealing with failing clearing houses to try to stop the rapidly growing sector from becoming "too big to fail" and holding taxpayers to ransom in a crisis.
Clearing houses stand between two sides of a stock, bond or derivatives transaction, ensuring its completion even if one side goes bust.
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