OTC derivatives but rather shift them from banks to CCPs. Under the present regulatory overhaul, the OTC derivative market …, indicates that the proposed changes may not provide the best solution. The paper suggests that a tax on derivative liabilities … could make the OTC derivatives market safer, particularly in the transition to a stable clearing infrastructure. It also …

the two main compromises: the tradeoffs between maturity and collateral, and between seniority and control. The framework …

. Instead it shows, first, that the use of ill-suited collateral in the secured funding operations of U.S.-based investment …

Credit derivative markets are largely unregulated, but calls are increasingly being made for changes to this "hands off …. The purpose of this paper is to address two basic questions: (i) do credit derivative markets increase systemic risk; and … of credit derivative markets and recent events, followed by an assessment of their recent association with systemic risk …