Reform of Over-the-Counter Derivatives Markets: International Efforts


Nikolas Gavino (Editor)

Series: Financial Institutions and Services
BISAC: BUS069000

Derivatives, or financial instruments whose value is based on an underlying asset, played a key role in the financial crisis of 2008-2009. Congress directly addressed the governance of the derivatives markets through the Dodd-Frank Wall Street Reform and Consumer Protection Act. This Act, in Title VII, sought to bring the largely unregulated over-the-counter (OTC) derivatives markets under greater regulatory control and scrutiny. Pillars of this approach included mandating that certain OTC derivatives be subject to central clearing, such as through a clearinghouse, which involves posting margin to cover potential losses; greater transparency through trading on exchanges or exchange-like facilities; and reporting trades to a repository, among other reforms.

This book examines the G-20 recommendations for reforming OTC derivatives markets and presents the result of self-assessment surveys measuring the performance of G-20 members and some FSB members to date in meeting their commitments. It also discusses the key issues in derivatives reform; describes some of the requirements placed on the derivatives market by the Dodd-Frank Act; analyzes why countries coordinate economic policies and the historical origins of the G-20; how the G-20 operates; major highlights from previous G-20 summits, plus an overview of the agenda for the next G-20 summit; and debates about the effectiveness of the G-20 as a forum for economic cooperation and coordination. (Imprint: Nova)

Table of Contents

Table of Contents


Chapter 1 – Comparing G-20 Reform of the over-the-Counter Derivatives Markets (pp. 1-76)
James K. Jackson and Rena S. Miller

Chapter 2 – Key Issues in Derivatives Reform (pp. 77-104)
Rena S. Miller

Chapter 3 – The Dodd-Frank Wall Street Reform and Consumer Protection Act: Title VII, Derivatives (pp. 105-134)
Rena S. Miller and Kathleen Ann Ruane

Chapter 4 – The G-20 and International Economic Cooperation: Background and Implications for Congress (pp. 135-154)
Rebecca M. Nelson


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