South African over-the-counter credit derivatives market : 2005-2015
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Authors
Kennedy-Palmer, S
Issue Date
2015
Type
Dissertation
Language
en
Keywords
Alternative Title
The SA OTC credit derivatives market : 2005 to 2015
Abstract
Credit derivatives played a large role in intensifying losses during the subprime lending
crisis, which began in 2007 in the US and spiralled into a financial crisis in 2008. One of the
major reasons for this descent into financial crisis was the uncertainty about the exposure of
some systemically important financial institutions through their derivative positions,
specifically credit derivative instruments such as credit default swaps (CDSs).
Using data obtained from the SARB, the study found that prior to the crisis, the size of the
South African OTC credit derivatives market was increasing steadily. However, the 2008
financial crisis temporarily stunted this growth, and the size of the market declined. Since
2010, the growth of the market has once again been on an upward trajectory. The study
examines recent international and local regulations relating to OTC derivatives and makes
policy recommendations for South Africa.
Description
Citation
Kennedy-Palmer, S (2015) South African over-the-counter credit derivatives market : 2005-2015, University of South Africa, Pretoria, <http://hdl.handle.net/10500/21002>