[READ] Derivatives Regulation: Rules and Reasoning from Lehman to Covid

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Derivatives Regulation Rules and Reasoning from
Lehman to Covid
Derivatives Regulation - Rules and Reasoning from
Lehman to Covid provides an indepth examination
of the changes made to the regulation of
derivatives that were enacted following
the global financial crisis of 2008, considering
the motivations behind these changes and
including insights from the Covid pandemic.Key
areas of derivatives regulatory reform are
examined, 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 motivations for these reforms in its
immediate aftermath are considered, as well as
the impact of these rules on the financial
system, using insights from the market stress
around the onset of the Covid pandemic in 2020.
The book analyses the construction of financial
regulation, 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 throw light on 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.
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