01926cas a2200277 a 4500 AALejournalIMF006143 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451874006 1018-5941 BD-DhAAL BD-DhAAL Kiff, John. Credit Derivatives : Systemic Risks and Policy Options? / John Kiff, Jennifer Elliott, Elias Kazarian, Jodi Scarlata. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (35 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Credit derivative markets are largely unregulated, but calls are increasingly being made for changes to this "hands off" stance, amidst concerns that they helped to fuel the current financial crisis, or that they could be a cause of the next one. The purpose of this paper is to address two basic questions: (i) do credit derivative markets increase systemic risk; and (ii) should they be regulated more closely, and if so, how and to what extent? The paper begins with a basic description of credit derivative markets and recent events, followed by an assessment of their recent association with systemic risk. It then reviews and evaluates some of the authorities' proposed initiatives, and discusses some alternative directions that could be taken. Mode of access: Internet Elliott, Jennifer. Kazarian, Elias. Scarlata, Jodi. IMF Working Papers; Working Paper ; No. 2009/254 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/254/001.2009.issue-254-en.xml IMF e-Library