Evangelos Benos, Anne Wetherilt, Filip Zikes, 02 December 2013

Like all other over-the-counter derivatives markets, the UK credit default swap (CDS) market has traditionally been opaque, and important questions have been largely unanswered: How do UK CDS market participants trade? Who are the main players? And how did they behave during the financial crisis? Based on newly available transactions data, this column gives some first answers to these questions.

Anne-Laure Delatte, 23 July 2012

Uncovered sovereign credit default swaps will be permanently prohibited in the EU by November 2012. While empirical evidence on their destabilising role is mounting, this column argues that the EU regulation will have only a limited effect, as a number of inconsistencies create regulatory arbitrage and opportunities to circumvent the ban.

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