PL EN


2013 | 174 | 118-128
Article title

Problem ryzyka kontrahenta na rynku pozagiełdowych instrumentów pochodnych

Content
Title variants
EN
Counterparty Risk Problem on the over the Counter Derivatives Market
Languages of publication
PL
Abstracts
EN
Financial crisis that began in 2007 on the U.S. mortgage market with remarkable dynamics reached global financial world. It consequences impaired stability of the financial markets and banking systems, and weakened the economies of many countries. One of the most important factors occurring during the financial crisis was the sudden surge in the counterparty risk. Counterparty risk is a kind of credit risk and is characterized by a situation that the counterparty to a transaction defaults before the final cash flow settlement of the transaction. The purpose of this article is to present the specific problem of counterparty risk in the perspective of risk management techniques in the OTC derivatives market and moreover to explain the EMIR - an important regulatory initiative in this area.
Year
Volume
174
Pages
118-128
Physical description
Contributors
References
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  • M. Szmelter: Swap kredytowy jako najlepiej rozwinięty pochodny instrument kredytowy. W: Problemy współczesnej gospodarki światowej. Red. H. Treder. Prace i Materiały Instytutu Handlu Zagranicznego, nr 27, Fundacja Rozwoju Uniwersytetu Gdańskiego, Sopot 2009.
  • Systemy rozrachunku papierów wartościowych w Polsce i na świecie. Red. K. Nakoneczny, B. Wróbel. Departament Edukacji i Wydawnictw, Narodowy Bank Polski, Warszawa 2009, s. 36.
  • J.C. Kress: Credit Default Swaps, Clearinghouses, and Systemic Risk: Why Centralized Counterparties Must Have Access to Central Bank Liquidity. "Harvard Journal on Legislation" 2011, Vol. 48.
Document Type
Publication order reference
Identifiers
ISSN
2083-8611
YADDA identifier
bwmeta1.element.desklight-5f4ae0a5-a961-4e43-8739-165efdba2345
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