Abstract

FERNANDEZ GUERENA, Liliana Nieves. Credit Default Swaps, normas contables y endeudamiento de la República Argentina. Escr. Contab. Adm. [online]. 2011, vol.2, n.1, pp. 73-91. ISSN 1853-2055.

The Argentine Republic is a risky country based on the expectation that it may not be able to pay its external debt and may go into default, thus generating new Derived Financial Products. We will analyze the Credit Default Swaps as a means of protection against payment breach. In all financial transactions specific risks are assumed; in these operations the risk taken is known as "credit risk". Credit Default Swaps are considered to be Off Balance Sheet Products because they are commercialized in over-the-counter markets and they are private, non-regulated transactions. This entails an absence of minimum equity requirements and an incorrect or null accounting. Accounting rules are not sufficiently revealing of the measurement of these transactions. Our proposal will contemplate the correct recording and externalization of such operations in the Accounting Statement taking into account economic reality as well as management of the risks involved.

Keywords : Derived Credit Default Swaps; Financial Products; Argentine countable rules; Risk management.