National Economic Council director Gary Cohn hit out at clearinghouses Sunday, saying the growing amount of illiquid assets parked in them raises concerns about a "new systemic problem in the system," The Wall Street Journal reports. 

"I don’t think we really understand the magnitude of continuously putting things in clearinghouses without the proper guardrails in the clearinghouse," said Cohn, a former Goldman Sachs executive, adding the key to clearinghouses is real-time liquidation.