Ben Bernanke, chairman of the Federal Reserve, said that as derivatives markets rely more on clearinghouses, regulators need to increase oversight. Bernanke argued that although clearinghouses have weathered past crises well, they can still pose risks to the broader financial system. "We should not take for granted that we will be as lucky in the future," Bernanke said. "The flip side of the centralization of clearing and settlement activities in clearinghouses is the concentration of substantial financial and operational risk in a small number of organizations."
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