Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: http://hdl.handle.net/10419/60977
Autoren: 
Duffie, Darrell
Li, Ada
Lubke, Theo
Datum: 
2010
Reihe/Nr.: 
Staff Report 424
Zusammenfassung: 
In the wake of the recent financial crisis, over-the-counter (OTC) derivatives have been blamed for increasing systemic risk. Although OTC derivatives were not a central cause of the crisis, the complexity and limited transparency of the market reinforced the potential for excessive risk-taking, as regulators did not have a clear view into how OTC derivatives were being used. We discuss how the New York Fed and other regulators could improve weaknesses in the OTC derivatives market through stronger oversight and better regulatory incentives for infrastructure improvements to reduce counterparty credit risk and bolster market liquidity, efficiency, and transparency. Used responsibly with these reforms, over-the-counter derivatives can provide important risk management and liquidity benefits to the financial system.
Schlagwörter: 
OTC derivatives
central counterparty
centralized data repository
collateral management
electronic trading platform
exchange
market transparency
regulation
systemic risk
JEL: 
E61
G01
G10
G18
Dokumentart: 
Working Paper

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