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Risk control (why government bonds receive credit ratings (concept of…

- - - - placing limits on credit ratings
      - trading derivatives on a recognised exchange
      - demanding collateral and/or margin payments
      - placing limits on individual credit exposures
      - avoiding aggregations of exposure
      - using credit derivatives
  - - - management understanding complex deals undertaken by traders
      - separating front office and back office functions
      - setting up audit trails
      - clearly defining roles and responsibilities
      - training and qualifications