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Central Counterparties: Mandatory Clearing and Bil ateral Margin Requirements for OTC Derivatives (Hardcover)
Loot Price: R1,796
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Central Counterparties: Mandatory Clearing and Bil ateral Margin Requirements for OTC Derivatives (Hardcover)
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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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