Federal Act
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Art. 53 Procedure in the event of the default of a participant
1 The central counterparty shall take measures to limit the credit and liquidity risks in the event of a participant's default. 2 To cover any losses in the event of a participant's default, it shall use collateral and capital in the following order:
3 It shall issue rules governing how more extensive losses are to be covered. It may not:
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