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Regulation of uncovered sovereign credit default swaps – evidence from the European Union

Kiesel, F. and Lücke, F. and Schiereck, D. :
Regulation of uncovered sovereign credit default swaps – evidence from the European Union.
[Online-Edition: http://dx.doi.org/10.1108/JRF-02-2015-0025]
In: The Journal of Risk Finance, 16 (4) pp. 425-443. ISSN 1526-5943
[Article] , (2015)

Official URL: http://dx.doi.org/10.1108/JRF-02-2015-0025

Abstract

This study aims to analyze the impact and effectiveness of the regulation on the European sovereign Credit Default Swap (CDS) market. The European sovereign debt crisis has drawn considerable attention to the CDS market. CDS have the ability of a speculative instrument to bet against a sovereign default. Therefore, the Regulation (EU) No. 236/2012 was introduced as the worldwide first uncovered CDS regulation. It prohibits buying uncovered sovereign CDS contracts in the European Union (EU).

Item Type: Article
Erschienen: 2015
Creators: Kiesel, F. and Lücke, F. and Schiereck, D.
Title: Regulation of uncovered sovereign credit default swaps – evidence from the European Union
Language: English
Abstract:

This study aims to analyze the impact and effectiveness of the regulation on the European sovereign Credit Default Swap (CDS) market. The European sovereign debt crisis has drawn considerable attention to the CDS market. CDS have the ability of a speculative instrument to bet against a sovereign default. Therefore, the Regulation (EU) No. 236/2012 was introduced as the worldwide first uncovered CDS regulation. It prohibits buying uncovered sovereign CDS contracts in the European Union (EU).

Journal or Publication Title: The Journal of Risk Finance
Volume: 16
Number: 4
Publisher: Emerald Group Publishing Limited
Divisions: 01 Law and Economics > Betriebswirtschaftliche Fachgebiete > Corporate finance
01 Law and Economics > Betriebswirtschaftliche Fachgebiete
01 Law and Economics
Date Deposited: 06 Aug 2015 08:48
Official URL: http://dx.doi.org/10.1108/JRF-02-2015-0025
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