Modern banking and OTC derivatives markets: the transformationn of global finance and its implications for systemic risk
Saved in:
| Format: | Book |
|---|---|
| Language: | English |
| Published: |
Washington, DC
Internat. Monetary Fund
2000
|
| Series: | International Monetary Fund: Occasional paper
203 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | VII, 72 S. Ill. |
| ISBN: | 1557759995 |
Staff View
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| 245 | 1 | 0 | |a Modern banking and OTC derivatives markets |b the transformationn of global finance and its implications for systemic risk |c Garry J. Schinasi ... |
| 264 | 1 | |a Washington, DC |b Internat. Monetary Fund |c 2000 | |
| 300 | |a VII, 72 S. |b Ill. | ||
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| 490 | 1 | |a International Monetary Fund: Occasional paper |v 203 | |
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Record in the Search Index
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| adam_text | Contents
Preface vii
I Overview I
II Modern Banking and OTC Derivatives Markets 3
The Transformation of Global Finance 3
Importance of OTC Derivatives in Modern Banking and
Global Finance 5
III OTC Derivatives Markets: Size, Structure, and Business
Practices 9
The Size, Global Scope, and Institutional Structure of
Derivatives Markets 9
Derivatives Contract Structures 12
Exchange Versus Over the Counter Market Structures 18
Trading and Back Office Infrastructure for OTC Derivatives Dealing 20
Middle Office: Managing the Risks Associated with OTC
Derivatives Positions 24
IV Regulatory Environment for OTC Derivatives Activities 31
Regulatory Environments in the United States, the United Kingdom,
and Other Key Jurisdictions 31
Effects of Regulatory Rules and Modes of Supervision on the OTC
Derivatives Markets 34
Regulatory Uncertainties and Their Implications for OTC Derivatives 36
Financial Innovations and Challenges for Supervision and
Regulation: The Case of Credit Derivatives 39
V Key Features of OTC Derivatives Activities 41
VI Financial Stability Issues in Modern Banking: Sources of
Financial Instability and Structural Weakness in OTC
Derivatives Activities 49
Sources of Instability in OTC Derivatives Activities and Markets 49
Weaknesses in the Infrastructure 51
VII Strengthening the Stability of Modern Banking and OTC
Derivatives Markets 54
Balancing Private and Official Roles 54
Strengthening Incentives for More Effective Market Discipline 55
Reducing Legal and Regulatory Uncertainty 56
D
Coordinated Improvements in Disclosure 57
Private and Public Roles in Reducing Systemic Risk 57
VIII Conclusions 59
Appendix. Development of OTC Derivatives Markets in
Historical Perspective 62
Glossary *5
References *8
Boxes
Section
II 2.1. Precision Finance, Desegmentation and Conglomeration, and
Market Integration 4
2.2. The Role of OTC Currency Options in the Dollar Yen Market 5
2.3. LTCM and Turbulence in Global Financial Markets 6
III 3.1. Derivatives Products Companies 15
3.2. Motives for OTC Derivatives Transactions 16
3.3. Exotic Options 17
3.4. The Life of a Two Year Interest Rate Swap 22
3.5. Measuring Potential Future Exposure in a Swap Contract 26
3.6. Legal Risks in OTC Derivatives Markets 28
IV 4.1. SEC Registered OTC Derivatives Dealers 36
4.2. Clearinghouses 38
V 5.1. Off Balance Sheet Leverage 44
Tables
Section
II 2.1. Top Twenty Derivatives Dealers in 2000 and Their
Corresponding Ranks in 1999 4
III 3.1. Global Over the Counter (OTC) Derivatives Markets: Notional
Amounts and Gross Market Values of Outstanding Contracts,
1998 2000 10
3.2. Global Over the Counter (OTC) Derivatives Markets: Notional
Amounts and Gross Market Values of Outstanding Contracts by
Counterparty, Remaining Maturity, and Currency Composition,
1998 2000 11
3.3. Geographical Distribution of Reported Over the Counter (OTC)
Derivatives Market Activity, April 1995 and April 1998 14
Figures
Section
III 3.1. Notional Principal Amounts Outstanding for Exchange Traded
and Over the Counter Derivative Instruments, 1987 99 12
3.2. Structure of the Over the Counter (OTC) Derivatives Markets,
End June 2000 13
3.3. The Life of an OTC Derivatives Trade 21
B
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| physical | VII, 72 S. Ill. |
| publishDate | 2000 |
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| spelling | Modern banking and OTC derivatives markets the transformationn of global finance and its implications for systemic risk Garry J. Schinasi ... Washington, DC Internat. Monetary Fund 2000 VII, 72 S. Ill. txt rdacontent n rdamedia nc rdacarrier International Monetary Fund: Occasional paper 203 Derivaten (financiën) gtt Effectenhandel gtt Finances internationales Finances internationales ram Instruments dérivés (Finances) Instruments dérivés (finances) ram Internationale financiën gtt Marchés hors bourse Parallelmarktfondsen gtt Risque Risque de marché ram Risque ram Second marché (bourse) ram Derivative securities International finance Over-the-counter markets Risk Internationaler Wertpapiermarkt (DE-588)4467571-9 gnd rswk-swf Außerbörslicher Wertpapierhandel (DE-588)4419581-3 gnd rswk-swf Derivat Wertpapier (DE-588)4381572-8 gnd rswk-swf Außerbörslicher Wertpapierhandel (DE-588)4419581-3 s Derivat Wertpapier (DE-588)4381572-8 s DE-604 Internationaler Wertpapiermarkt (DE-588)4467571-9 s DE-188 Schinasi, Garry J. Sonstige (DE-588)136898300 oth International Monetary Fund: Occasional paper 203 (DE-604)BV002597241 203 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009258763&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Modern banking and OTC derivatives markets the transformationn of global finance and its implications for systemic risk International Monetary Fund: Occasional paper Derivaten (financiën) gtt Effectenhandel gtt Finances internationales Finances internationales ram Instruments dérivés (Finances) Instruments dérivés (finances) ram Internationale financiën gtt Marchés hors bourse Parallelmarktfondsen gtt Risque Risque de marché ram Risque ram Second marché (bourse) ram Derivative securities International finance Over-the-counter markets Risk Internationaler Wertpapiermarkt (DE-588)4467571-9 gnd Außerbörslicher Wertpapierhandel (DE-588)4419581-3 gnd Derivat Wertpapier (DE-588)4381572-8 gnd |
| subject_GND | (DE-588)4467571-9 (DE-588)4419581-3 (DE-588)4381572-8 |
| title | Modern banking and OTC derivatives markets the transformationn of global finance and its implications for systemic risk |
| title_auth | Modern banking and OTC derivatives markets the transformationn of global finance and its implications for systemic risk |
| title_exact_search | Modern banking and OTC derivatives markets the transformationn of global finance and its implications for systemic risk |
| title_full | Modern banking and OTC derivatives markets the transformationn of global finance and its implications for systemic risk Garry J. Schinasi ... |
| title_fullStr | Modern banking and OTC derivatives markets the transformationn of global finance and its implications for systemic risk Garry J. Schinasi ... |
| title_full_unstemmed | Modern banking and OTC derivatives markets the transformationn of global finance and its implications for systemic risk Garry J. Schinasi ... |
| title_short | Modern banking and OTC derivatives markets |
| title_sort | modern banking and otc derivatives markets the transformationn of global finance and its implications for systemic risk |
| title_sub | the transformationn of global finance and its implications for systemic risk |
| topic | Derivaten (financiën) gtt Effectenhandel gtt Finances internationales Finances internationales ram Instruments dérivés (Finances) Instruments dérivés (finances) ram Internationale financiën gtt Marchés hors bourse Parallelmarktfondsen gtt Risque Risque de marché ram Risque ram Second marché (bourse) ram Derivative securities International finance Over-the-counter markets Risk Internationaler Wertpapiermarkt (DE-588)4467571-9 gnd Außerbörslicher Wertpapierhandel (DE-588)4419581-3 gnd Derivat Wertpapier (DE-588)4381572-8 gnd |
| topic_facet | Derivaten (financiën) Effectenhandel Finances internationales Instruments dérivés (Finances) Instruments dérivés (finances) Internationale financiën Marchés hors bourse Parallelmarktfondsen Risque Risque de marché Second marché (bourse) Derivative securities International finance Over-the-counter markets Risk Internationaler Wertpapiermarkt Außerbörslicher Wertpapierhandel Derivat Wertpapier |
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| work_keys_str_mv | AT schinasigarryj modernbankingandotcderivativesmarketsthetransformationnofglobalfinanceanditsimplicationsforsystemicrisk |