Derivatives, regulation and banking


Derivatives, regulation and banking

edited by Barry Schachter

(Advances in finance, investment and banking, v. 3)

Elsevier Science B.V., 1997

大学図書館所蔵 件 / 24



Includes bibliographical references



This volume provides high quality academic research on the ongoing, and sometimes heated, public policy debate over the benefits of bank derivatives and trading activities. This debate is centered on the potential adverse systemic effects of these activities. To date, relatively little of what is known of the economic causes and consequences of these activities is the result of scientific scrutiny. Firstly, the volume documents the trends in trading activities and derivatives usage. Secondly, this book discusses the economic motivation for, and economic consequences of banks' derivatives and trading activities. Thirdly, the regulatory options and their potential consequences are evaluated. Recommendations for a reasoned supervisory response, based on the analyses in this book, conclude the volume.


Introduction. Financial innovations and the growth of bank derivatives activities (J. Jagtiani et al.). Derivatives in U.S. banking: Theory, practice, and empirical evidence (J.F. Sinkey, Jr., D. Carter). Derivatives dealers and credit risk (T. Azarchs). The valuation of off-balance-sheet financial instrument disclosures in the banking industry (S.M. Riffe). Sources of bank foreign exchange trading profits: Taking positions or making markets? (J. Ammer, A.D. Brunner). Bank positions and forecasts of exchange rate movements (M.P. Leahy). Indexed certificates of deposit (E.H. Cantor, B. Schachter). A strategic analysis of stock index-linked CDS (J.P. Ogden). Over-the-counter derivatives and systemic risk to the global financial system (M.R. Darby). Derivatives regulation (J. Board et al.). Financial innovation, money banking and financial fragility in the UK (A. Mullineux). Value-at-risk analysis and the proposed Basle accord amendment (P. Jackson et al.). Recent developments in bank capital regulation of market risks (P.H. Kupiec, J.M. O'Brien). Netting agreements and potential credit exposure (D. Hendricks). A proposed framework for studying the domino effect (L. Schneck).

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