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Reform of over-the-counter derivatives markets : international efforts / Nikolas Gavino, editor.
- Format:
- Book
- Series:
- Business economics in a rapidly-changing world series.
- Business Economics in a Rapidly-Changing World
- Language:
- English
- Subjects (All):
- Derivative securities--United States.
- Derivative securities.
- Over-the-counter markets--United States.
- Over-the-counter markets.
- Financial risk management--United States.
- Financial risk management.
- United States.
- Physical Description:
- 1 online resource (175 p.)
- Place of Publication:
- New York : Nova Publishers, 2014.
- Language Note:
- English
- Summary:
- Derivatives, or financial instruments whose value is based on an underlying asset, played a key role in the financial crisis of 2008-2009. Congress directly addressed the governance of the derivatives markets through the Dodd-Frank Wall Street Reform and Consumer Protection Act. This Act, in Title VII, sought to bring the largely unregulated over-the-counter (OTC) derivatives markets under greater regulatory control and scrutiny. Pillars of this approach included mandating that certain OTC derivatives be subject to central clearing, such as through a clearinghouse, which involves posting margin to cover potential losses; greater transparency through trading on exchanges or exchange-like facilities; and reporting trades to a repository, among other reforms. This book examines the G-20 recommendations for reforming OTC derivatives markets and presents the result of self-assessment surveys measuring the performance of G-20 members and some FSB members to date in meeting their commitments. It also discusses the key issues in derivatives reform; describes some of the requirements placed on the derivatives market by the Dodd-Frank Act; analyzes why countries coordinate economic policies and the historical origins of the G-20; how the G-20 operates; major highlights from previous G-20 summits, plus an overview of the agenda for the next G-20 summit; and debates about the effectiveness of the G-20 as a forum for economic cooperation and coordination.
- Notes:
- Includes index.
- Description based on online resource; title from PDF title page (ebrary, viewed July 19, 2014).
- ISBN:
- 1-63321-427-3
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