THE OTC DERIVATIVES ACTIVITIES OF SECURITIES FIRM AFFILIATES TO PROMOTE CONFIDENCE AND STABILITY IN FINANCIAL MARKETS
DERIVATIVES POLICY GROUP
MARCH 1995
DERIVATIVES POLICY GROUP
E. Gerald Corrigan, Co-Chair of Derivatives Policy Group
Chairman of the International Advisors
Goldman Sachs
John G. Heimann, Co-Chair of Derivatives Policy Group
Chairman, Global Financial Institutions
Merrill Lynch
Members
William P. Bowden, Jr.
General Counsel
CS First Boston
| David H. Komansky
President and Chief Operating Officer
Merrill Lynch
|
Jacob D. Goldfield
Partner and Head of
Worldwide Fixed Income Derivative
Trading and Marketing
Goldman Sachs
| John G. Macfarlane, III
Managing Director and
Treasurer
Salomon Brothers
|
Peter Karches
Managing Director and
Head of Fixed Income
Division Worldwide
Morgan Stanley
| Thomas A. Russo
Managing Director and
Chief Legal Officer
Lehman Brothers
|
Of Counsel
Edward J. Rosen, Esq. Partner
Cleary, Gottlieb, Steen & Hamilton
TABLE OF CONTENTS
I. Policy Overview
II. Management Controls
III. Enhanced reporting
IV. Evaluation of Risk in Relation to Capital
V. Copunterparty Relationships
VI. Appendix I (Reporting grids)
VII. Appendix II (Estimation of Credit Risk)
|
