Bill Stenning

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Last quote by Bill Stenning

Variation margin haircutting creates the right incentives for gainers to close out positions. Following a default, you can manage your risk and therefore manage your potential loss. Ultimately, we need a set of tools with the right incentives, otherwise you could easily end up making a difficult situation even worse. The problem with IM haircutting is that it incentivises a disorderly exit from the CCP.
Jan 20 2017
Find all of Bill Stenning’s quotes that have been published in 1 different article on this page. Bill Stenning’s quotes are organized by date and topic, making it easy for you to compare, for example, what Bill Stenning has said both recently, and in the past, on a variety of topics. Some of the topics Bill Stenning likes to comment on include haircutting and default. Most recently, Bill Stenning said, “We were pleased to see the absence of initial margin haircutting in the proposal, but we would like to see an explicit exclusion. Your house is used as security on your mortgage and, of course, you don't lose your house because someone else defaults on their mortgage. Likewise you shouldn't lose your initial margin because another counterparty defaults.”.
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Quotes by Bill Stenning

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