Last year, a secondary effect of sub-prime mortgage causes a serious stagnancy in the financial world and a practical economy through the world. An excessive confidence of transferring a risk and an excessive currency in financial derivatives have been indicated as one of the main reason that causing the global financial crisis and cooling down of the economy. But essentially financial derivatives lead to reduce the risk and finance effectively, so you have to perceive the name of financial agency that adopts financial derivatives in the capital market. Under the present circumstances, we bring the law of capital market integration to effect, that law lightens drastically restrictions of financial derivatives and over the counter derivations, it would cause variations of forms of management and results in the local financial agency. Making an estimate of that kind of variations, I decided study on American financial system that has been taken an effect early in 2000 for lightening restrictions. By the end of 2001, CFMA has been introduced and that causes lighten restrictions in financial derivatives including over the counter derivatives. Based on that fact, the principal financial agencies in America analyze the quarterly operation result - before 3years introducing CFMA and after 3years - though the analysis of management index. As a result, in part an efficiency of raising the capital have the support, otherwise the hypothesis - an efficiency of equity capital - has rejected. Also the hypothesis of increasing a banking security had been supported at first in Total Borrowings and Bonds Payable to Total Assets, but in other index it has been rejected. And the hypothesis that estimates an increasing of profitable has supported partially, but it has not supported in Net Income to Stockholders' Equity and return on invested capital. Also the hypothesis in a growth of financial agency has been rejected. Likewise the hypothesis in financial agency quality has been supported partially based on BIS ratio and the result of nonperforming loan ratio besides an efficiency in managing the risk has been rejected partially. For an affirmative concept in valued review statement of financial agency, in EVA has been rejected only, but in PER, EPS, EVA Spread has been supported. And the hypothesis that mentions an affirmative efficiency about excess earning rate and cumulative average residual have been supported, since the consequences also appear to be similar, the hypothesis has the support more. This study has been examined and analyzed the effect of lightening restrictions of financial derivatives and over the counter derivatives in an administrative result of financial agency though the efficiency of raising the capital / the efficiency of equity capital / Stability / Profitability / Growth / risk managing / Cash Flow / valued review statement / AR / CAR. Based on this study, I expect it could help in forecasting the effect of lightening restrictions of financial derivatives, moreover I hope it could help to figure out the problem as well as the solution.