...Marc Peters Purpose Central clearing counterparties’ (CCPs) specific loss allocation mechanism is reflected in the specific resolution regime designed at the international level. At the same time, international guidance texts require equity to bear losses first in resolution. This creates...

... and the diversity of NPL resolution approaches. Design/methodology/approach The authors review policy lessons from the crisis in dealing with the NPL problem. Findings The paper highlights some key recommendations – the need for intrusive supervision, strong macro-financial surveillance and NPL resolution...