frankiemachine
Mr. Tentenna
Occhio però: quelli lì non sono CDS...si era già chiarito sul FOL....
Me lo sono perso: cosa sono allora? E dove si vedono 'quelli veri'?
Occhio però: quelli lì non sono CDS...si era già chiarito sul FOL....
Me lo sono perso: cosa sono allora? E dove si vedono 'quelli veri'?
EU warns it may regulate credit default swaps
1 day ago
BRUSSELS, Belgium (AP) — European Union regulators warned Tuesday that they may have to regulate credit default swaps after the financial industry failed to agree on forming a central agency to handle the derivatives, which are partly blamed for the world financial crisis.
EU Financial Services Commissioner Charlie McCreevy said he was prepared "to go the legislative route if necessary" to set up a central clearing counterparty for the swaps, which offer insurance on securities for lenders worried about a borrower's ability to pay them back.
He told a meeting of EU finance ministers that efforts to get the financial industry to set up a clearing system fell apart earlier this month.
"In the very last minute, the industry got cold feet," he said.
McCreevy warned last year of the urgent need to establish a framework for credit derivatives, including swaps, to plug a vacuum in the financial system since the September collapse of U.S. investment bank Lehman Brothers which negotiated many of the world's derivative contacts.
U.S. authorities are also pushing for a new system of central clearinghouses for credit default swaps, saying that would make deals more transparent and could reduce risk in the financial system.
In December, the Securities and Exchange Commission gave Britain's LCH.Clearnet Ltd. a temporary exemption from rules so it could operate a clearinghouse in the United States.
The swaps are commonly used contracts to insure against the default of financial instruments such as bonds and corporate debt. But they also are bought and sold as bets against bond defaults.
They played a prominent role in the credit crisis that brought the downfall of Lehman Brothers Holdings Inc., a government rescue plan for giant insurer American International Group Inc., and Merrill Lynch & Co. selling itself to Bank of America Corp.
The huge volume of credit default swaps sold by AIG, for example, coupled with rising levels of defaulted mortgage and other debt, threatened the company's existence and prompted the government to spend $150 billion to bail it out to avoid a catastrophic collapse. If AIG were to fail, the losses would spread to the companies and investors who bought swaps from it.
Ce ne hanno messo di tempo per accorgersene,
che questa è un'altra bomba ad orologeria,
purtroppo già innescata,
ma come diceva l'indimenticato A.Manzi
nella sua trasmissione tv " non è mai troppo tardi " ( speriamo )
Qui la soluzione è ricondurre i CDS alla loro funzione originaria di strumento assicurativo: chi non ha il sottostante in quantità proporzionate non può comprare CDS a copertura del rischio default...![]()
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conosci qualche sito serio con le quotazioni dei cds?![]()