Central counterparties: The role of multilateralism and monopoly
It is a great pleasure for me to speak tonight at this
joint conference of the European Central Bank (ECB)
and the Federal Reserve Bank of Chicago (Chicago
Fed) on central counterparty (CCP) issues. Central
counterparties were the topic of the very first workshop
in the field of payment and settlement issues
that I organized as a member of the Executive Board
of the ECB. I am also happy to attend a conference
co-organized by the ECB and the Chicago Fed, since
it represents an example of multilateral cooperation
between monopolistic institutions!