It takes the average reader and 16 minutes to read Limiting Taxpayer “Puts”—An Example from Central Counterparties by Mr. Manmohan Singh
Assuming a reading speed of 250 words per minute. Learn more
Nonbanks such as central counterparties (CCPs) are a useful lens to see how regulators view the role of the lender-of-last-resort (LOLR). This paper explores the avenues available when a nonbank failure is likely, specifically by considering the options of keeping CCPs afloat. It is argued that CCPs have, by regulatory fiat, become “too important to fail,” and thus the imperative should be greater loss-sharing by all participants that better align the distribution of risks and rewards of CCPs, the clearing members and derivative end-users. In the context of LOLR, the proposed variation margin gains haircut (VMGH) is discussed as a way of limiting the taxpayer put.
Limiting Taxpayer “Puts”—An Example from Central Counterparties by Mr. Manmohan Singh is 16 pages long, and a total of 4,096 words.
This makes it 5% the length of the average book. It also has 5% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 22 minutes to read Limiting Taxpayer “Puts”—An Example from Central Counterparties aloud.
Limiting Taxpayer “Puts”—An Example from Central Counterparties is suitable for students ages 6 and up.
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