Abstract
The financial press in the United States is having a great time telling readers about the risks associated with financial derivatives. The casual reader might think that some new risks have been invented or, at a minimum, that our financial system is riskier now than a few years ago. Neither conjecture is true. New risks have not been discovered, and the financial market is not a riskier place.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
References
Abken, Peter A. “Over-the-Counter Financial Derivatives: Risky Business?” Economic Review (Federal Reserve Bank of Atlanta) 79 (2) (March/April 1994), 1–22.
Bagehot, Walter. Lombard Street: A Description of the Money Market, 14th ed. London: John Murray. 1931.
Greenspan, Alan. Testimony before the Subcommittee on elecommunications and Finance of the Committee on Energy and Commerce, U.S. House of Representatives, May 25, 1994.
Group of Thirty, Global Derivatives Study Group. “Derivatives: Practices and Principles.” July 1993.
Jordan, Jerry L. “A Market Approach to Banking Regulation.” Remarks presented at the CATO Institute’s Eleventh Annual Monetary Conference on Financial Deregulation in a Global Economy, Washington, DC, March 18–19, 1993.
Jordan, Jerry L. `Economic Forces versus Monetary Institutions.“ Remarks presented at the CATO Institute’s Twelfth Annual Monetary Conference on Monetary Arrangements in the Americas after the NAFTA, Mexico City, May 25–26, 1994.
Knight, Frank H. Risk, Uncertainty, and Profit. Chicago: University of Chicago Press. 1971 (1921).
LaWare, John P. Remarks presented at the American Bankers Association’s 1994 National Regulatory Compliance Conference, Washington, D.C., June 13, 1994.
McDonough, William J. “Financial Market Innovation—Practical Concerns,” Remarks presented before the Money Marketeers of New York University, New York City, June 16, 1994.
McDonough, William J. Remarks presented at the Institute of International Bankers’ Annual Meeting, New York, May 4, 1994.
Phillips, Susan M. “Derivatives and Risk Management: Challenges and Opportunities,” Remarks presented at the Federal Reserve Bank of Atlanta Conference on Financial Markets, Coconut Grove, Florida, February 25, 1994.
Phillips, Susan M. Remarks before the Forum on Developing Country Access to Derivatives Markets. The World Bank, Washington, DC, June 30, 1994.
Schultz, George P. Turmoil and Triumph: My Year as Secretary of State. New York: Charles Scribner’s Sons. 1993.
U.S. General Accounting Office. “Financial Derivatives: Actions Needed to Protect the Financial System.” GAO/GGD-94–133, May 1994.
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 1995 Springer Science+Business Media New York
About this chapter
Cite this chapter
Jordan, J.L. (1995). Supervision of Derivative Instruments. In: Benink, H.A. (eds) Coping with Financial Fragility and Systemic Risk. Financial and Monetary Policy Studies, vol 30. Springer, Boston, MA. https://doi.org/10.1007/978-1-4757-2373-1_19
Download citation
DOI: https://doi.org/10.1007/978-1-4757-2373-1_19
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4419-5155-7
Online ISBN: 978-1-4757-2373-1
eBook Packages: Springer Book Archive