Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-410-187"
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"en.20110705.34.2-410-187"2
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"The over-the-counter derivatives market must remain robust, transparent and competitive. Consequently, it is very important to establish measured regulation, because under-regulation endangers the market, and over-regulation leads to increased costs and even increased prices for the end consumers. Central clearing can itself pose systemic risks, and therefore it is very important for CCPs to have robust risk and default management strategies that do not transfer risk to the taxpayer. I believe that pension funds with a risk-averse profile should be obliged to provide reports and implement risk mitigation techniques for over-the-counter derivative contracts not cleared by a CCP. The clearing obligation should subsist as long as the non-financial counterparty’s net positions and exposures in OTC derivative contracts exceed the clearing threshold. Attention should be drawn to the fact that in all cases we must ensure that we avoid disproportionate costs for pensioners. Furthermore, there must be increased powers for European supervisory authorities, giving them the right to impose fines when provisions of this Regulation have been breached."@en1
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