Financial Stability Paper No 25: The structure and dynamics of the UK CDS market
Evangelos Benos (),
Anne Wetherilt and
Filip Zikes
Additional contact information
Filip Zikes: Bank of England, Postal: Publications Group Bank of England Threadneedle Street London EC2R 8AH
No 25, Bank of England Financial Stability Papers from Bank of England
Abstract:
Over-the-counter derivatives (OTCDs) have been at the centre of regulators' and policymakers' attention owing to widespread concerns that these markets contributed to the build-up of systemic risk in the 2007/08 financial crisis. In 2009 the G20 initiated a reform programme that aims to increase transparency and reduce systemic risk in these markets. This paper analyses the structure and dynamics in one segment of the OTCD market, namely the UK single-name credit default swap (CDS) market. For our analysis, we use transaction reports warehoused in the trade repository operated by the Depository Trust & Clearing Corporation (DTCC). The data span the time between January 2007 and December 2011 which enables us to take a close look at market activity during the financial crisis.
Keywords: financial regulation; derivatives (search for similar items in EconPapers)
JEL-codes: G01 G28 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2013-11-08
Note: http://www.bankofengland.co.uk/financialstability/Pages/fpc/fspapers/fs_paper25.aspx
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (25)
Downloads: (external link)
https://www.bankofengland.co.uk/-/media/boe/files/ ... he-uk-cds-market.pdf Full text (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:boe:finsta:0025
Access Statistics for this paper
More papers in Bank of England Financial Stability Papers from Bank of England Bank of England, Threadneedle Street, London, EC2R 8AH. Contact information at EDIRC.
Bibliographic data for series maintained by Digital Media Team ().