Russia to ask G20 to discuss possibility of central counterparty stress testing
MOSCOW. Feb 14 (Interfax) - Russia plans to discuss the possibility of conducting central counterparty (CCP) stress testing with its G20 colleagues, Russian Finance Minister Anton Siluanov said at an Institute of International Finance conference for the G20 in Moscow.
"There is a fear that reforms in over-the-counter derivatives will cause growth in the burden on central counterparties. Given the significance of these infrastructural institutions for the financial market in general, we plan to propose that our G20 partners discuss the possible consequences of growth in the concentration of risks within such a unique structure," he said.
Russia expects that after the discussion, the G20 will ask the Financial Stability Board or the Basel Committee on Banking Supervision to analyze this situation and assess the need to conduct CCP stress testing, Siluanov said.
