Policy Note 2006/1 | January 2006

Credit Derivatives and Financial Fragility

On September 15, the Federal Reserve convened 14 large credit derivatives–dealer banks to an unusual meeting. The last such meeting occurred on September 16, 1998, in secret. At that time, a major financial institution was melting down and threatening to take some large banks with it. This time, they met to discuss the same topic: the clearing of transactions in the credit derivatives market.

Associated Program:
Edward Chilcote

Publication Highlight

Quick Search

Search in: