European Parliament Library

Credit Derivatives :, Systemic Risks and Policy Options?, John Kiff, Jennifer Elliott, Elias Kazarian, Jodi Scarlata, Carolyne Spackman

Creator
Abstract
Credit derivative markets are largely unregulated, but calls are increasingly being made for changes to this "hands off" stance, amidst concerns that they helped to fuel the current financial crisis, or that they could be a cause of the next one. The purpose of this paper is to address two basic questions: (i) do credit derivative markets increase systemic risk; and (ii) should they be regulated more closely, and if so, how and to what extent? The paper begins with a basic description of credit derivative markets and recent events, followed by an assessment of their recent association with systemic risk. It then reviews and evaluates some of the authorities' proposed initiatives, and discusses some alternative directions that could be taken
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Market Structure and Recent Developments; 1. Global Credit Derivatives Outstanding; 2. CDS Notional Outstanding: Singl-versus Multi-Name; 3. Weekly Corporate Single-Name Bid/Asked Spread; III. Do Credit Derivative Markets Increase Systemic risk?; A. Operational Risks Remain but are Continuing to Abate Amid Significant Infrastructure Improvements; 4. OTC Derivative Trade Confirmations Outstanding; 1. Forerunner to the Big Bang: the ISDA Cash Opt-In CDS Settlement Protocol
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (66 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781283514705

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