The financial crisis has resulted in significant changes in the trading of financial derivatives. In particular, these affect regulatory and accounting requirements. To this extent, the handbook provides an in-depth review of these changes specifically oriented at the needs of lawyers and accountants as well as legal officers of insurance and capital investment companies. The following issues are addressed:Supervisory and not risk related requirements regarding indebtedness, stress-tested liquidity and consideration of CVA-risks as well as changes in the calculation of market risks and the division of the global counter-party riskClearing of OTC-derivatives including regulatory and insolvency issuesAccounting according to German Trade Law and IRFSApplication of BRRD and SAG rules on derivativesCredit Default Swaps and secured refinancing according to ISDA 2014 Credit Derivative Definitions Compliance with aspects of civil law effectiveness and liability as well as regulatory requirementsRisk management from the banking perspective including counterparty risk management and CVA-steeringDerivatives on energy and goods also in relation to regulatory requirements stemming from EMIR, REMIT and MiFiDLegal situation in Luxemburg, Austria and SwitzerlandThe authors are more than 30 leading experts from law firms, auditing companies, rating agencies and universities which have contributed their expertise and experience to this handbook.
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