Font Size: a A A

Research On Legal Supervision Of Credit Derivatives In Post-crisis Era

Posted on:2014-07-02Degree:MasterType:Thesis
Country:ChinaCandidate:H LiaoFull Text:PDF
GTID:2256330401478359Subject:Law
Abstract/Summary:PDF Full Text Request
Credit derivatives, as one of the latest financial innovation products ininternational financial derivatives market,plays an remarkable role for the prosperityof financial market.After the US subprime mortgage crisis, the international market for creditderivatives, exposed a series of regulatory problems and defects, and the crisis alsocaused the concern of supervision of Credit derivatives regulation in the world. Thecurrent financial market in China is in a period of rapid development, we ought to bespeed up the pace of financial derivatives market development and improve thesupervision to ensure safety and legitimate rights of investors in financial markets.This paper is divided into four chapters.The first chapter makes a simple introductionand analysis of the development situation domestic and overseas from definition ofcredit derivatives, legal characteristics, the types of credit derivatives,the history ofcredit derivatives and present situation of credit derivatives in our country.The second chapter discusses the trade risk that the credit derivatives facing, and thesignificance of strengthening legal supervision. Credit derivatives spererate the creditrisk of other risks to manage credit risk conveniently.However, In the process ofcredit derivatives trade, risk is inevitable, like market risk, legal risk, liquidity risk andother transaction risk. The analysis of the risk is to intend to stress the importance ofderivatives supervision. The third chapter elaborates the overseas credit derivatives supervision systemand financial reform measures taken by the United States, Britain, the EuropeanUnion and international organizations after crisis. One of the important reasons ofsubprime mortgage crisis is that the United States supervision authorities are lack ofthe awareness of supervision of the credit derivatives market, and the crisis alsoexposed the flawness of supervision model. In order to discuss the characteristics andthe trend of the reform in credit derivatitives market after crisis, this chapter analyzesthe existing supvervision system and the measures taken of the derivatrives marketregulatiory reform in western countries.The fourth chapter analyzes current credit derivatives supervision situation andexisting defects in our country, in order to give some suggestions on build perfectcredit derivatives market supervision in our country. The history of credit derivativesin our country is very short, so the market foundation is weak, and the power andresponsibility of the supervision department is not clear. Legal regulation on financialderivatives exist serious lag. Our country should make regulation perfect according toits own specific national conditions. On one hand, develop the credit derivativesmarket of our country and be conform to the trend of the development of thederivatives market. On the other hand, explore a set of regulatory model suitable toChina’s regulatory credit derivatives by reference to the advanced idea of supervisionand regulation of the United States, Britain, the European Union and the organizationdevelopment of credit derivatives. Build the three level regulatory strcuture to ensurethe safety of the trading operation during the whole trade process, and to safeguardthe legitimate rights and interests of investors and market security and stability.
Keywords/Search Tags:Credit derivatives, Risk, Supervision
PDF Full Text Request
Related items