Practical guidance toward handling the latest changes to the OTC
derivatives market Central Counterparties is a practical guide to
central clearing and bilateral margin requirements, from one of the
industry's most influential credit practitioners. With up-to-date
information on the latest regulations imposed after the global
financial crisis, this book covers the mechanics of the clearing
process and analyses the resulting consequences. Detailed discussion
explains the ways in which the very significant clearing and margining
rules will affect the OTC derivatives market and the financial markets
in general, with practical guidance toward implementation and how to
handle the potential consequences. Over-the-counter derivatives were
blamed by many for playing a major role in the 2007 financial crisis,
resulting in a significant attention and dramatic action by
policymakers, politicians, and regulators to reduce counterparty
credit risk which was seen as a major issue in the crisis. The two
most important regulatory changes are the mandatory clearing of
standardised OTC derivatives, and the requirements for bilateral
margin posting in non-standard OTC contracts. Central Counterparties
is a complete reference guide to navigating these changes, providing
clarification and practical advice. Review the mitigation of
counterparty credit risk with the historical development of central
clearing Clarify the latest regulatory requirements imposed by
Dodd-Frank, EMIR, Basel III and more Learn the mechanics of central
clearing, with special attention to complex issues such as margin
calculations, the loss waterfall, client clearing and regulatory
capital rules Gain insight into the advantages and disadvantages of
clearing and bilateral margin requirements, and the potential issues
that arise As the clearing and margining mandates are phased in, the
associated costs will be severe enough to dramatically shift the
topology of the financial markets and transform the nature of risk.
Central Counterparties provides the information, clarification and
expert insight market practitioners need to get up to speed quickly.
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Mandatory Central Clearing and Initial Margin Requirements for OTC Derivatives
Produktdetaljer
ISBN
9781118891582
Publisert
2018
Utgave
1. utgave
Utgiver
Wiley Professional Development (P&T)
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter