Evolución de los productos derivados sobre tipos de interés en España: análisis de sus riestos y ventajas

Lorenzo de Cristobal y de Nicolás
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Lorenzo de Cristobal y de Nicolás: Departamento de Tesorería del Bank of America

EKONOMIAZ. Revista vasca de Economía, 1994, vol. 29, issue 02, 52-69

Abstract: Over the last few years, monetary and public debt markets have increased their efficiency while very swiftly developing their relates derivative markets. The purpose of the present study is to present the characteristics of the various derivative instruments available and to analyze their risks and advantages. Firstly, derivative products on the interest rate of the peseta are examines, analysing their evolution, importance and habitual use. The risk factor inolved is then studi''''''''ed, trying to clarify the high risk connotation they have been attributed. The various advantages of derivative assets in interest rate risk management are also surveyed, both in hedging operations and in synthetic asset generation. Lastly, the pending matters and future evolution of the derivative market are asessed.

Keywords: Productos financieros; tipos de interés (search for similar items in EconPapers)
JEL-codes: G12 G13 G14 (search for similar items in EconPapers)
Date: 1994
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