U.S. and UK Authorities Conduct Joint Central Counterparty Resolution Exercise

On September 3, 2026, senior officials from the Securities and Exchange Commission (SEC), Federal Deposit Insurance Corporation (FDIC), Commodity Futures Trading Commission (CFTC), Federal Reserve Board, and the Bank of England participated in a joint tabletop exercise. The exercise focused on the resolution of central counterparties (CCPs), which are critical for clearing derivatives and other financial transactions. This coordinated effort aims to improve preparedness and response strategies for potential financial disruptions involving CCPs, especially in the context of increasing digital asset integration and evolving market risks.

The exercise underscores the importance of international cooperation in financial regulation, particularly as digital assets and crypto-related activities become more intertwined with traditional financial infrastructure. While the event was a simulation, it highlights ongoing efforts by regulators to ensure resilience and stability in the face of complex, cross-border financial challenges.

Regulators emphasized the need for clear resolution plans and effective communication channels among authorities to mitigate systemic risks. The exercise also reflects broader initiatives to adapt existing frameworks to accommodate emerging financial technologies and digital assets, ensuring that regulatory oversight remains robust and responsive.