Repo transactions provide cash/securities management opportunities for financial intermediaries and investors. Repos are the most important financial instrument in Istanbul Stock Exchange in terms of transaction volume. Banker Crisis (1982) and Banking Crisis (1994), occured in Turkey, and also...

This paper considers how a tax on financial transactions could be applied to three broad and partially overlapping categories of financial instruments: (1) exchange-traded instruments; (2) over-the-counter instruments; and, (3) foreign exchange instruments. For each category, the paper examines...

OTC derivatives markets were an increasing source of vulnerability heading into the crisis. OTC derivatives markets contributed to the financial crisis. Credit derivatives facilitated the development and growth of the structured securities markets; and the purchasing, packaging, and distribution...

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...

This technical note focuses on the International Organization of Securities Commissions objectives and principles of securities regulations of Austria. The 2003 assessment found that Austria had fully broadly implemented a large majority of principles. The human resources of the Securities...

This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, monetary policy, corporate financing, and the capacity to absorb capital inflows....

Purpose – The aim of this paper is to discuss the impact of regulatory-driven changes to the collateral management landscape, indicating operational and technological challenges faced by global investment banks while complying with the new regulatory framework. As it transpires, collateral...

Purpose – The aim of this paper is to discuss the impact of regulatory-driven changes to the collateral management landscape, indicating operational and technological challenges faced by global investment banks while complying with the new regulatory framework. As it transpires, collateral...

Recent regulatory initiatives in the United States have again raised the issue of a 'level regulatory and supervisory playing field' and the degree of competition globally between over-the-counter (OTC) derivatives and organized derivative exchange (ODE) markets. This paper models some important...