Hidden Bibliographic Details
| Other authors / contributors: | Singh, Manmohan.
International Monetary Fund. Monetary and Capital Markets Department.
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| ISBN: | 1462348726
9781462348725
1451871163
9781451871166
9786612842092
6612842091
1452730911
9781452730912
1282842099
9781282842090
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| Notes: | At head of title: Monetary and Capital Markets Department.
"November 2008."
Includes bibliographical references.
English.
Online resource; title from PDF title page (ebrary, viewed February 27, 2014).
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| Summary: | The financial market turmoil of recent months has highlighted the importance of counterparty risk. Here, we discuss counterparty risk that may stem from the OTC derivatives markets and attempt to assess the scope of potential cascade effects. This risk is measured by losses to the financial system that may result via the OTC derivative contracts from the default of one or more banks or primary broker-dealers. We then stress the importance of "netting" within the OTC derivative contracts. Our methodology shows that, even using data from before the worsening of the crisis in late Summer 2008, the potential cascade effects could be very substantial. We summarize our results in the context of the stability of the banking system and provide some policy measures that could be usefully considered by the regulators in their discussions of current issues.
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| Other form: | Print version: Segoviano, Miguel A. Counterparty risk in the over-the-counter derivates market. Washington, D.C. : International Monetary Fund, ©2008
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