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Author : William Charles Meehan
Publisher :
ISBN 13 : 9780314638236
Total Pages : 750 pages
Book Rating : 4.6/5 (382 download)
Download or read book OTC Derivatives Regulation Under Dodd-Frank written by William Charles Meehan and published by . This book was released on 2015 with total page 750 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ligia Catherine Arias-Barrera
Publisher : Routledge
ISBN 13 : 1351797719
Total Pages : 215 pages
Book Rating : 4.3/5 (517 download)
Download or read book Regulation and Supervision of the OTC Derivatives Market written by Ligia Catherine Arias-Barrera and published by Routledge. This book was released on 2018-05-11 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: The over-the-counter (OTC) derivatives market has captured the attention of regulators after the Global Financial Crisis due to the risk it poses to financial stability. Under the post-crisis regulatory reform the concentration of business, and risks, among a few major players is changed by the concentration of a large portion of transactions in the new market infrastructures, the Central Counterparties (CCPs). This book, for the first time, analyses the regulatory response of the United Kingdom and the United States, the two largest centres of OTC derivatives transactions, and highlights their shortcomings. The book uses a normative risk-based approach to regulation as a methodological lens to analyse the UK regime of CCPs in the OTC derivatives market. It specifically focuses on prudential supervision and conduct of business rules governing OTC derivatives transactions and the move towards enhancing the use of central clearing. The resulting analysis, from a normative risk based approach, suggests that the UK regime for CCPs does not fulfil what would be expected if a coherent risk based approach was taken. Our comments on the Dodd-Frank Act highlight that the incoherent adoption of risk-based approach to regulation affects the effectiveness of the US regime for CCPs. Such a regime does not follow the pace of events of ‘innovation risk’; in particular, the foreseeable changes FinTech will bring to the OTCDM and central clearing services. The second inadequacy of the US regime concerns the dual regulatory structure of the CFTC and the SEC, and the inadequate adoption of different and not well-coordinated regulatory strategies. We also analyse the cross-border implications of the US regime for non-US CCPs that provide clearing services to US market participants. Finally, we study the negative effects of the absence of a clearly defined resolution regime for CCPs.
Author : United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises
Publisher :
ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.:/5 (327 download)
Download or read book The Effective Regulation of the Over-the-counter Derivatives Market written by United States. Congress. House. Committee on Financial Services. Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises and published by . This book was released on 2009 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alexandra G. Balmer
Publisher : Edward Elgar Publishing
ISBN 13 : 1788111923
Total Pages : 228 pages
Book Rating : 4.7/5 (881 download)
Download or read book Regulating Financial Derivatives written by Alexandra G. Balmer and published by Edward Elgar Publishing. This book was released on 2018-06-29 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book puts forward a holistic approach to post-crisis derivatives regulation, providing insight into how new regulation has dealt with the risk that OTC derivatives pose to financial stability. It discusses the implications that post crisis regulation has had on central counterparties and the risk associated with clearing of OTC derivatives. The author offers a novel solution to tackle the potential negative externalities from the failure of a central counterparty and identifies potential new risks arising from post crisis reforms.
Author : United States. Congress. House. Committee on Agriculture. Subcommittee on Risk Management and Specialty Crops
Publisher :
ISBN 13 :
Total Pages : 166 pages
Book Rating : 4.0/5 (17 download)
Download or read book Regulation of the Over-the-counter Derivatives Market written by United States. Congress. House. Committee on Agriculture. Subcommittee on Risk Management and Specialty Crops and published by . This book was released on 1998 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mary McAllister Shepro
Publisher :
ISBN 13 :
Total Pages : 15 pages
Book Rating : 4.:/5 (13 download)
Download or read book Regulating the Over the Counter Derivatives Market written by Mary McAllister Shepro and published by . This book was released on 2014 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt: Charged with being the true cause of...the credit crisis, over-the-counter (OTC) derivatives have received considerable flack and regulatory attention since 2008. This attention is in stark contrast to the pre-2008 regulatory world, where calls to police the OTC derivatives market were rejected as unnecessary and OTC derivatives were hailed as utopian financial instruments. The crisis soon shattered such exaltations as the highly interconnected nature of the OTC derivatives market exposed its dark side: enormous systemic risk, reckless leverage, and opacity. Recognizing these issues, global leaders agreed, post-2008, that a co-existing national and international framework was necessary to successfully regulate OTC derivatives. Five years later, however, no adequate regulatory framework has been implemented by the G-20. Following the G-20's proposed regulatory reforms, much has been written on the specific, technical aspects of OTC derivative regulations. However, very little -- aside from calls for an international framework -- has been written on how countries should proceed in coordinating their regulatory reforms and rules. This paper seeks to fill that void and suggests that focusing on global coordination is a mistake: While global goals, harmonization, and macro-level policy statements are informative for directing domestic regulatory reforms, focusing on a gold-standard global governance regime for the OTC derivatives market diverts attention away from where real progress can be made: at the bilateral and regional level. International financial institutions and organizations should focus on facilitating information about the domestic regulatory frameworks of their Members (through production and dissemination), rather than trying to facilitate actual rule-specific global coordination. Further, because the vast majority of OTC derivatives dealers are based in just a few countries, the goal of reducing systemic risk and contagion in the OTC derivatives market can be largely achieved by focusing coordination efforts in just these few markets.
Author : United States. Congress. House. Committee on Agriculture
Publisher :
ISBN 13 :
Total Pages : 208 pages
Book Rating : 4.3/5 (91 download)
Download or read book Hearing to Review Proposed Legislation by the U.S. Department of the Treasury Regarding the Regulation of Over-the-counter Derivatives Markets written by United States. Congress. House. Committee on Agriculture and published by . This book was released on 2009 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : David Murphy
Publisher : Palgrave Macmillan
ISBN 13 : 9781137293855
Total Pages : 304 pages
Book Rating : 4.2/5 (938 download)
Download or read book OTC Derivatives: Bilateral Trading and Central Clearing written by David Murphy and published by Palgrave Macmillan. This book was released on 2013-09-04 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The OTC derivatives market has been hit by a massive wave of regulatory change. Capital and margin requirements have increased, trade reporting has been mandated, and execution mechanisms are evolving. Most of all, central clearing is being imposed for many transactions. OTC Derivatives: Bilateral Trading and Central Clearing explains the new rules and the new models. It discusses the traditional bilateral market, then sets out how this will change due to mandatory central clearing and the new ways in which OTC derivatives will have to be traded, reported, and processed. The risks of OTC derivatives clearing houses are discussed in detail, as are the protections that CCPs have against these risks. The book also looks at alternatives to some of the policy decisions that have been made, showing the balance between costs and benefits of various different approaches to derivatives market stability. The book is both a detailed primer on OTC derivatives clearing and a powerful insight into post-crisis financial regulation. Key features of the book include: • A discussion of the capital rules for OTC derivatives counterparty credit risk in Basel III; • An account of OTC derivatives trade processing in both bilateral and cleared markets; • A detailed account of the risk profile of OTC derivatives CCPs; • An explanation of the risks run in various collateral segregation models; and • A comparison of various macro-prudential tools for enhancing the financial stability of OTC derivatives markets.
Author : Christopher Chen
Publisher : BRILL
ISBN 13 : 9004343415
Total Pages : 58 pages
Book Rating : 4.0/5 (43 download)
Download or read book Over-the-Counter Derivatives Regulation in Hong Kong and Singapore written by Christopher Chen and published by BRILL. This book was released on 2017-02-06 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this work, Christopher Chen examines and compares the regulation of over-the-counter derivatives in Hong Kong and Singapore, the two largest international financial centres in Asia Pacific. Chen analyses current or proposed regulations on trade reporting, centralised clearing and mandatory exchange trading mandates regarding OTC derivatives against the backdrop of reforms of international financial regulatory structure after the global financial crisis. The article also relates the reforms in Asia to development in major Western markets such as the US, the UK or the European Union. Apart from technical comparison and dissecting of content of rules from different angles, his work also examines the rationale behind those reforms and policy concerns behind Asian adoption of the regulatory mandates prescribed by G20 as well as potential policy concerns (such as competition and extraterritoriality) in a market that is dominated by Western banks.
Author : Mr.Manmohan Singh
Publisher : International Monetary Fund
ISBN 13 : 1451982763
Total Pages : 17 pages
Book Rating : 4.4/5 (519 download)
Download or read book Collateral, Netting and Systemic Risk in the OTC Derivatives Market written by Mr.Manmohan Singh and published by International Monetary Fund. This book was released on 2010-04-01 with total page 17 pages. Available in PDF, EPUB and Kindle. Book excerpt: To mitigate systemic risk, some regulators have advocated the greater use of centralized counterparties (CCPs) to clear Over-The-Counter (OTC) derivatives trades. Regulators should be cognizant that large banks active in the OTC derivatives market do not hold collateral against all the positions in their trading book and the paper proves an estimate of this under-collateralization. Whatever collateral is held by banks is allowed to be rehypothecated (or re-used) to others. Since CCPs would require all positions to have collateral against them, off-loading a significant portion of OTC derivatives transactions to central counterparties (CCPs) would require large increases in posted collateral, possibly requiring large banks to raise more capital. These costs suggest that most large banks will be reluctant to offload their positions to CCPs, and the paper proposes an appropriate capital levy on remaining positions to encourage the transition.
Download or read book Hearing to Examine The Regulation of Over-The-Counter Derivatives, Serial No. 111-23, Serial No. 111-55, July 10, 2009, First Session, Joint Hearing, * written by and published by . This book was released on 2009 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : United States. Congress. House. Committee on Agriculture
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.3/5 (121 download)
Download or read book Hearing to Examine the Regulation of Over-the-counter Derivatives written by United States. Congress. House. Committee on Agriculture and published by . This book was released on 2009 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gabriel V. Rauterberg
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.:/5 (13 download)
Download or read book Assessing Transnational Private Regulation of the OTC Derivatives Market written by Gabriel V. Rauterberg and published by . This book was released on 2016 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the last twenty years, the dominant narrative of the over-the-counter derivatives market has been one of absent regulation, deregulation, and regulatory conflict, predictably resulting in disaster. This Article challenges this narrative, arguing that the global derivatives market has been subject to pervasive and harmonized regulation by what should be recognized as transnational private regulators. Recognizing the reality of widespread transnational private regulation of derivatives has significant implications, which this Article explores. Appreciating the actual regulatory status quo is essential if policymakers are to correctly diagnose problems, avoid past regulatory errors, and plan effective remedies. There are also advantages to relying on private transnational regulation, as increased governmental effort to regulate the OTC derivatives space may undermine and fracture existing regulation. To be sure, private transnational regulation carries risks that have sometimes materialized, such as the manipulation of LIBOR. Thus, this Article also evaluates best practices in regulating through transnational private governance.
Author : Philip McBride Johnson
Publisher : Wolters Kluwer
ISBN 13 : 0735533369
Total Pages : 663 pages
Book Rating : 4.7/5 (355 download)
Download or read book Derivatives Regulation written by Philip McBride Johnson and published by Wolters Kluwer. This book was released on 2004-01-01 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: For over a quarter century, Commodities Regulation has been recognized as the resource covering the derivatives marketplace. Today, Derivatives Regulation builds on that expertise, delivering the coverage professionals and practitioners need in order to stay current with this changing topic. Derivatives Regulation comprehensively covers the Commodity Exchange Act along with all other relevant aspects of the regulation of securities that have an impact on the derivatives markets. Derivatives Regulation is completely updated to cover the full range of emerging regulatory, reporting, and legal issues surrounding derivatives and related instruments, including: Distinguishing between regulated and unregulated derivatives�and knowing which rules to apply The significant roles of the SEC and the federal laws in regulating derivatives Meeting standards for exemption or other relief The workings of the derivatives markets and the rules applicable to trading Registration, reporting, and disclosure requirements applicable to commodities professionals Criteria for publicly traded futures and commodity options Rules governing unprofessional conduct, including the antifraud and anti-manipulation prohibitions Customer protections, the CFTC�s reparations program, arbitration programs, and private rights of action in the courts
Author : Eric Helleiner
Publisher : Oxford University Press
ISBN 13 : 0190864583
Total Pages : 289 pages
Book Rating : 4.1/5 (98 download)
Download or read book Governing the World's Biggest Market written by Eric Helleiner and published by Oxford University Press. This book was released on 2018-02-07 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the 2008 global financial crisis, the regulation of the world's enormous derivatives markets assumed center stage on the international public policy agenda. Critics argued that loose regulation had contributed to the momentous crisis, but lasting reform has been difficult to implement since. Despite the global importance of derivatives markets, they remain mysterious and obscure to many. In Governing the World's Biggest Market, Eric Helleiner, Stefano Pagliari, and Irene Spagna have gathered an international cast of contributors to rectify this relative neglect. They examine how G20 governments have developed a coordinated international agenda to enhance control over these markets, which had been allowed to grow largely unchecked before the crisis. In analyzing this reform agenda, they advance three core arguments: first, the agenda to rein in these enormous markets has many limitations; second, the reform process has been plagued by delays, inconsistencies, and tensions that fragment the governance of these markets; and third, the politics driving the reforms have been extremely complicated. An authoritative overview of how this vast system is governed, Governing the World's Biggest Market looks at how the goals, limitations, and outcomes of post-crisis initiatives to regulate these markets have been influenced by a complex combination of transnational, inter-state, and domestic political dynamics. Moreover, this volume emphasizes how crucial regulatory reform is to stabilizing the global economy long-term.
Author : Michael K. Adjemian
Publisher : DIANE Publishing
ISBN 13 : 1437942571
Total Pages : 21 pages
Book Rating : 4.4/5 (379 download)
Download or read book Dodd-Frank Wall Street Reform and Consumer Protection Act (DF) written by Michael K. Adjemian and published by DIANE Publishing. This book was released on 2011-04 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: The DF makes significant changes to Fed. regulation of the U.S. OTC derivatives markets. The act calls for swaps to be centrally cleared and traded on an exchange or execution facility and for dealers and major participants that trade these derivatives to be subject to collateral requirements. Although the act exempts certain types of swaps and traders from these clearing, collateral, and trading venue requirements in order to preserve market efficiency, all swaps will be subject to new record-keeping and reporting rules. This report reviews some important features of the new law and discuss their potential impact on agribusiness, much of which will depend on how the rules are written and implemented by regulators. This is a print on demand report.
Author : William Charles Meehan
Publisher :
ISBN 13 : 9780314648006
Total Pages : 784 pages
Book Rating : 4.6/5 (48 download)
Download or read book OTC Derivatives Regulation Under Dodd-Frank written by William Charles Meehan and published by . This book was released on 2016 with total page 784 pages. Available in PDF, EPUB and Kindle. Book excerpt:
