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来源类型Working Paper
规范类型报告
DOI10.3386/w18724
来源IDWorking Paper 18724
Measuring Margin
Robert L. McDonald
发表日期2013-01-17
出版年2013
语种英语
摘要Policy makers and market participants alike wish to understand the amount, economic significance, and concentration of derivatives trading activity. This paper suggests that systematic measuring and reporting of margin by market participants, disaggregated by asset class, would provide more meaningful insights into derivatives activity. Where margin is not required, it could nevertheless be imputed and reported. The Dodd-Frank financial reform bill, by contrast, moves away from transparency by granting non-financial firms an end-user exemption from posting initial margin on their trades. This is economically equivalent to a borrowing from the counterparty and effectively permits these firms to issue off-balance-sheet debt.
主题Financial Economics ; Financial Markets ; Corporate Finance
URLhttps://www.nber.org/papers/w18724
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/576398
推荐引用方式
GB/T 7714
Robert L. McDonald. Measuring Margin. 2013.
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