Romanian banks use derivatives to hedge against or speculate on the movement of economic variables such as foreign exchange rate or interest rate. To report these contracts, they apply the IFRS in both consolidated accounts (from 2007 onwards) and individual accounts (starting with 2012). This...

Romanian banks use derivatives to hedge against or speculate on the movement of economic variables such as foreign exchange rate or interest rate. To report these contracts, they apply the IFRS in both consolidated accounts (from 2007 onwards) and individual accounts (starting with 2012). This...

Many specialists consider that financial instruments such as credit derivatives are, among other factors, to be blamed for the current financial crisis. This financial engineering, called credit deriva-tives, long praised as a great way of diffusing risks for banks, encouraged many financial...