Regulation of uncovered sovereign credit default swaps – evidence from the European Union

F. Kiesel, F. Lücke and D. Schiereck

Publications of Darmstadt Technical University, Institute for Business Studies (BWL) from Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL)

Abstract: This study aims to analyze the impact and effectiveness of the regulation on the European sovereign Credit Default Swap (CDS) market. The European sovereign debt crisis has drawn considerable attention to the CDS market. CDS have the ability of a speculative instrument to bet against a sovereign default. Therefore, the Regulation (EU) No. 236/2012 was introduced as the worldwide first uncovered CDS regulation. It prohibits buying uncovered sovereign CDS contracts in the European Union (EU).

Date: 2015-08-06
New Economics Papers: this item is included in nep-cba, nep-eec and nep-ger
Note: for complete metadata visit http://tubiblio.ulb.tu-darmstadt.de/74937/
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Published in The Journal of Risk Finance 4 (2015-08-06) : pp. 425-443

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http://dx.doi.org/10.1108/JRF-02-2015-0025

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Persistent link: https://EconPapers.repec.org/RePEc:dar:wpaper:74937

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