What Happened When Alex Kenjeev Paid His Student Loan in Cash
America's 10 Highest-Paid CEOs of 2011 (and How They Earned It)
A new day is dawning for regulation of interest rate swaps. Fifteen banks have agreed to clear 90% of new credit derivatives by December. Banks will also submit 60% of existing interest rate swaps to a central counter party.
What does this mean? It means that trades will clear through an independent counter party called a clearinghouse. What then is a clearinghouse? A clearinghouse is a central counter party that serves as buyer to every seller and seller to every buyer. Commodity futures trades pass through a clearinghouse.
What kind of numbers are we looking at? The interest rate swaps market is a $403 trillion market.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
