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Réglementation et risques systémiques sur les marchés de dérivés de gré à gré

Author

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  • Henri Audigé

Abstract

The collapse of the subprime markets in 2008 triggered one of the most destructive financial crisis since the stock market crash of 1929. Criticized from the beginning of the crisis, OTC derivatives markets stand out by their opacity and the lack of national and international supervision. In september 2009, the G20 countries gathered in Pittsburgh and commit to deeply reform these markets. In this article, we analyse the limits of autoregulation on OTC derivatives markets before the crisis and the financial stability challenges to come after the Pittsburgh Summit.

Suggested Citation

  • Henri Audigé, 2013. "Réglementation et risques systémiques sur les marchés de dérivés de gré à gré," EconomiX Working Papers 2013-40, University of Paris Nanterre, EconomiX.
    • Handle: RePEc:drm:wpaper:2013-41
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    File URL: http://economix.fr/pdf/dt/2013/WP_EcoX_2013-41.pdf
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    More about this item

    Keywords

    Financial Regulation; systemic risk; OTC derivatives; contagion; Central Counterparty Clearing House (CCP); cross-border regulation;
    All these keywords.

    JEL classification:

    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation

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