I do think, given the volatility we have seen in the market, given what feels like a more frequent period of shocks to the system, right, whether it was COVID 2 years ago and now the Ukraine crisis, that the collateral movement and the size of the CCPs and the volatility that we are seeing, it is extremely important to consider this proposal and this idea of having Fed accounts for CCPs.
Scott emphasizes the need for Federal Reserve accounts for clearinghouses amid market volatility.
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