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United States: Publication of Financial Sector Assessment Program Documentation: Technical Note on Regulatory Reform: OTC Derivatives
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2010: Issue 252
Language:
English
Publication Date:
30 Jul 2010
DOI:
https://doi.org/10.5089/9781455206797.002
ISBN:
9781455206797
ISSN:
1934-7685
Pages:
31
Keywords:
ISCR; CR; market; derivative instrument; OTC Derivatives Supervisors Group; trading; OTC derivatives market; cash market trading activity; market participant; exchange trading; interest rate; Derivative markets; Over-the-counter markets; Collateral; Credit; Europe
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OTC derivatives markets were an increasing source of vulnerability heading into the crisis. OTC derivatives markets contributed to the financial crisis. Credit derivatives facilitated the development and growth of the structured securities markets; and the purchasing, packaging, and distribution of poorly underwritten loans and mortgages. The proposed reforms will make major improvements to market trading liquidity and the price discovery process. The reversal of the deregulation of OTC derivatives marks a major improvement in regulatory approach, and it closes an important gap in the regulatory framework.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund