Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-29-Speech-4-317-500"
| Predicate | Value (sorted: default) |
|---|---|
| rdf:type | |
| dcterms:Date | |
| dcterms:Is Part Of | |
| dcterms:Language | |
| lpv:document identification number |
"en.20120329.36.4-317-500"2
|
| lpv:hasSubsequent | |
| lpv:speaker | |
| lpv:spokenAs | |
| lpv:translated text |
"The financial crisis has brought over-the-counter derivatives to the forefront of regulatory attention. The near-collapse of Bear Sterns in March 2008, the default of Lehman Brothers on 15 September 2008, and the bail-out of AIG the following day highlighted the shortcomings in the functioning of the over-the-counter derivatives market. Within that market, the regulatory authorities devoted particular attention to the role that credit default swaps (CDS) played during the crisis. In its broad communication of 4 March 2009 – ‘Driving European Recovery’, – the Commission committed to deliver, on the basis of a report on derivatives and other complex structured products, appropriate initiatives to increase transparency and to address financial stability concerns. All subsequent steps taken have been part of a larger international effort to increase the stability of the financial system in general, and the over-the-counter derivatives market in particular. Given the global nature of the over-the-counter derivatives market, an approach that is coordinated at the international level is crucial. It is therefore important that this proposal takes into account what other jurisdictions are planning to do, or what has already been done in the regulation of over-the-counter derivatives in order to avoid the risk of regulatory arbitrage."@en1
|
Named graphs describing this resource:
The resource appears as object in 2 triples