HOUSE_OVERSIGHT_014362.jpg

The image presents a page from the 2016 Future of Financials Conference, dated November 17, 2016. The page is divided into two sections, each featuring a bar graph accompanied by explanatory text. **Section 1:** * **Chart 70: What is the primary challenge related to the new clearing rules?** + The graph displays the results of a survey conducted among panel participants regarding the primary challenges associated with the new clearing rules. + The x-axis lists the challenges, while the y-axis represents the percentage of respondents who identified each challenge as a primary concern. + The graph reveals that the rising cost, particularly in the amount of collateral required, is the primary challenge (50%), followed by the complexity around infrastructure and different country rules (45%). + The lack of dealers offering the capabilities given their challenges and no challenge are also mentioned, but with lower percentages (2% each). **Section 2:** * **Chart 71: What is the biggest potential risk in the clearing mandate and CCPs?** + The graph illustrates the results of a survey among investors regarding the biggest potential risks associated with the clearing mandate and CCPs. + The x-axis lists the potential risks, while the y-axis represents the percentage of respondents who identified each risk as the biggest concern. + The graph shows that much more collateral will be needed in stressful times is the biggest potential risk (33%), followed by there will be collateral concentration issues (17%). + Other potential risks, such as CCP risk models failing, dealer/FCMs failing, and cybersecurity issues, are also mentioned, but with lower percentages (7% and 27%, respectively). **Additional Information:** * The source of the data is BoFA Merrill Lynch Global Research. * The conference was held on November 17, 2016. * The page number is 48. * The footer includes the Bank of America Merrill Lynch logo and the text "HOUSE_OVERSIGHT_014362".