ECB's Trichet on credit derivatives

In the speech 'Some reflections on the development of credit derivatives' given on 18 April Jean-Claude Trichet of the ECB said the credit derivatives industry may have become complacent over market dangers, and called for greater transparency and monitoring of risk.

"Credit derivatives and structured credit markets are transforming the financial system," Trichet told the International Swaps and Derivatives Association annual meeting.

"We are at present not sure that (those) three conditions are

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