Regulators said they might not have enough information to assess the threat over-the-counter derivatives pose to the financial system.

Shortfalls in available data may undermine attempts to use so-called trade repositories as a tool to improve market oversight, the Committee on Payment and Settlement Systems and the International Organization of Securities Commissions said in a report published today.

The lack of details on the value of trades "presents a potential gap in the data that authorities may require to fulfill" their mandates, the organizations said. More data on collateral would allow regulators to "better assess exposures, counterparty risk and ultimately systemic risk," they said.

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