European Commission - Extract From Speech By Commissioner Jonathan Hill On 2016 Priorities For An Approach To Resolution For CCPs, Centre For European Policy Studies

We need to consider how to approach other systemic financial institutions like central counterparty clearing houses, or CCPs.  We have required more clearing to go through central counter parties.  That's good for transparency and will reduce risk.  But now, if we are going to rely more on CCPs, we also need to put in place a system so that we can resolve them if anything goes wrong.