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

Henri Audigé ()

No 2013-40, EconomiX Working Papers from University of Paris Nanterre, EconomiX

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.

Keywords: Financial Regulation; systemic risk; OTC derivatives; contagion; Central Counterparty Clearing House (CCP); cross-border regulation (search for similar items in EconPapers)
JEL-codes: G18 G28 G30 L51 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2013
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