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Which of the following is not an advantage of establishing central counterparties (CCPs)? (a) CCPs allow netting of contracts. (b) CCPs can be applied to

Which of the following is not an advantage of establishing central counterparties (CCPs)?

(a) CCPs allow netting of contracts.

(b) CCPs can be applied to some types of OTC trades.

(c) CCPs can create more transparency in trading.

image text in transcribed(d) CCPs eliminate all counterparty risk in the financial system.

Albert Henri is the fixed income manager of a large Canadian pension fund. The present value of the pension fund's portfolio of assets is CAD 4 billion while the expected present value of the fund's liabilities is CAD 5 billion. The respective modified durations are 8.254 and 6.825 years. The fund currently has an actuarial deficit (assets

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