Jurisdictions' declared approaches to central clearing of OTC derivatives
This note provides a summary of responses received from jurisdictions to a request by the FSB Chair to set out their approaches to central clearing. All FSB member jurisdictions have now set out their approaches. Most indicated they have or will adopt an approach that would make it mandatory for certain transactions to be centrally cleared. Others indicated a preference for incentives to drive a transition to central clearing, with several noting an approach that would combine both elements. The note also describes jurisdictions’ approaches to the use of domestic and/or foreign central counterparties.