One Year Ago In Derivatives Week

Members of the European Parliament were considering a plan to give national and European regulators powers to unwind derivatives portfolios and slash payments due to creditors of major financial institutions deemed likely to fail. [Two weeks later, the European Commission considered the same proposal in a paper (DW, 4/15/10). The commission then came out with a proposal in January to write down or convert bank debt to recapitalize failing banks (DW, 1/14).]