A regulated new year
The credit crisis that initially surfaced in 2007 in the form of writedowns on complex structured credit products linked to subprime mortgages has elicited calls for more regulation. Market practitioners seem to accept this inevitability. The latest report from the Counterparty Risk Management Policy Group III (CRMPG III) in August acknowledged that the "case for devoting greater resources to the supervisory effort is clear and compelling".1
The question is what form this increased regulation
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