TY - BOOK ID - 101336610 TI - Derivatives regulation : rules and reasoning from Lehman to COVID PY - 2022 SN - 9780192846570 0192661817 0192661825 0192846574 0191938904 PB - New York: Oxford University Press, DB - UniCat KW - Derivative securities - Law and legislation KW - Global Financial Crisis, 2008-2009 - Government policy KW - Derivative securities KW - Global Financial Crisis, 2008-2009 UR - https://www.unicat.be/uniCat?func=search&query=sysid:101336610 AB - "This book provides an indepth examination of the changes made to the regulation of derivatives that were enacted following the global financial crisis of 2008. Key areas of derivatives regulatory reform are presented, including bank capital and leverage rules, the clearing mandate, uncleared margin rules, and the principles for the regulation of central counterparties. After providing an overview of the global financial crisis, the book considers the motivations for these reforms in its immediate aftermath. The impact of these rules on the financial system is then analysed using insights from the market stress around the onset of the Covid pandemic in 2020.The construction of financial regulation is investigated, as well as its nature and how this should be assessed, using tools from the law, economics, and regulatory theory. Global administrative law, cost benefit analysis, and the results of regulatory interventions in other areas allow for analysis of the legitimacy, efficiency, and effectiveness of derivatives regulation. Insights from international political economy are also discussed, situating financial regulation within the regulatory state, while showing how its institutional arrangements shape regulatory outcomes. Suggestions for improving both rules and regulatory processes are considered in the conclusion of the book"-- ER -