Global SIFIs, Derivatives and Financial Stability:
This paper looks at Global Systemically Important Financial Institutions (GSIFIs) and the global derivatives business. The derivatives business has grown exponentially versus global GDP in sharp contrast to the primary securities on which derivatives are based. Inter-connectedness risk and unconstra...
Gespeichert in:
| 1. Verfasser: | |
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| Weitere Verfasser: | |
| Format: | Elektronisch Buchkapitel |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2011
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| Schlagworte: | |
| Online-Zugang: | DE-384 DE-473 DE-824 DE-29 DE-739 DE-355 DE-20 DE-1028 DE-1049 DE-521 DE-861 DE-898 DE-92 DE-91 DE-573 DE-19 URL des Erstveröffentlichers |
| Zusammenfassung: | This paper looks at Global Systemically Important Financial Institutions (GSIFIs) and the global derivatives business. The derivatives business has grown exponentially versus global GDP in sharp contrast to the primary securities on which derivatives are based. Inter-connectedness risk and unconstrained potential leverage remain the most urgent tasks still facing the financial reform process. Concentrated oligopolistic derivatives markets and the ability of banks to shift promises and/or use their IRB models to estimate ex-ante risk capital - capital that might be needed in the event of a crisis - undermine the intent of financial reform. Nor do netting and clearing eliminate aggregate risk of losses and bankruptcy. The paper repeats the need to implement two of the OECD's long-standing reform recommendations: a binding leverage ratio based on equity and the separation of high risk investment banking activities from traditional banking. A derivatives transactions tax is also put forward as a possible option that would counter the cross-subsidisation of risk from the too-big-to-fail (TBTF) problem |
| Beschreibung: | 1 Online-Ressource (34 Seiten) 21 x 28cm |
| DOI: | 10.1787/fmt-2011-5kg55qw0qsbv |
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Datensatz im Suchindex
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| index_date | 2024-07-03T19:35:09Z |
| indexdate | 2024-11-07T19:02:52Z |
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| spelling | Blundell-Wignall, Adrian Verfasser aut Global SIFIs, Derivatives and Financial Stability Adrian Blundell-Wignall and Paul Atkinson Paris OECD Publishing 2011 1 Online-Ressource (34 Seiten) 21 x 28cm txt rdacontent c rdamedia cr rdacarrier This paper looks at Global Systemically Important Financial Institutions (GSIFIs) and the global derivatives business. The derivatives business has grown exponentially versus global GDP in sharp contrast to the primary securities on which derivatives are based. Inter-connectedness risk and unconstrained potential leverage remain the most urgent tasks still facing the financial reform process. Concentrated oligopolistic derivatives markets and the ability of banks to shift promises and/or use their IRB models to estimate ex-ante risk capital - capital that might be needed in the event of a crisis - undermine the intent of financial reform. Nor do netting and clearing eliminate aggregate risk of losses and bankruptcy. The paper repeats the need to implement two of the OECD's long-standing reform recommendations: a binding leverage ratio based on equity and the separation of high risk investment banking activities from traditional banking. A derivatives transactions tax is also put forward as a possible option that would counter the cross-subsidisation of risk from the too-big-to-fail (TBTF) problem Finance and Investment Atkinson, Paul ctb https://doi.org/10.1787/fmt-2011-5kg55qw0qsbv Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Blundell-Wignall, Adrian Global SIFIs, Derivatives and Financial Stability Finance and Investment |
| title | Global SIFIs, Derivatives and Financial Stability |
| title_auth | Global SIFIs, Derivatives and Financial Stability |
| title_exact_search | Global SIFIs, Derivatives and Financial Stability |
| title_exact_search_txtP | Global SIFIs, Derivatives and Financial Stability |
| title_full | Global SIFIs, Derivatives and Financial Stability Adrian Blundell-Wignall and Paul Atkinson |
| title_fullStr | Global SIFIs, Derivatives and Financial Stability Adrian Blundell-Wignall and Paul Atkinson |
| title_full_unstemmed | Global SIFIs, Derivatives and Financial Stability Adrian Blundell-Wignall and Paul Atkinson |
| title_short | Global SIFIs, Derivatives and Financial Stability |
| title_sort | global sifis derivatives and financial stability |
| topic | Finance and Investment |
| topic_facet | Finance and Investment |
| url | https://doi.org/10.1787/fmt-2011-5kg55qw0qsbv |
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