In the 'current issues', there were lots of material on the intellectual pains behind the concept of clearing all the OTC Derivatives through CCPs and the way the academics fought out on the viability of CCPs. Some feel that the CCPs were granted disproportionate powers a la Dodd-Frank. Here is one another article that states that there might be some flaws in the current regulatory thinking.
http://www.nakedcapitalism.com/2016/02/central-counterparties-the-new-locus-of-systemic-risk.html
http://www.nakedcapitalism.com/2016/02/central-counterparties-the-new-locus-of-systemic-risk.html
