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The Impact of CCP Liquidity Demands on Clearing Members Under Stress | Office of Financial Research
https://www.financialresearch.gov/working-papers/2025/07/01/the-impact-of-ccp-liquidity-demands-on-clearing-members-under-stress/
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During market stress, various demands on U.S. G-SIBs by central counterparties may further deplete the banks’ already stressed liquid and capital resources. (Working Paper no. 25-03).
