Council of Financial Regulators report on over-the-counter derivatives

A report by the Council of Financial Regulators

Rapid growth in over-the-counter (OTC) derivatives markets over the past decade and longer has been accompanied by an increasing awareness of the systemic importance of these markets, and of the potential risks inherent in market practices. These risks were most starkly demonstrated during the peak of the recent financial crisis in 2008. As a result, authorities have been developing a global regulatory agenda to drive substantial reforms in the functioning of OTC derivatives markets.