Some have argued that recent increases in credit risk transfer are desirable because they
improve the diversification of risk. Others have suggested that they may be undesirable if …

The experience of banking crises in the 1930s was severe. Before this, assuring financial
stability was primarily the responsibility of central banks. The Bank of England had led the …

Credit default swaps (CDS)—the fiercely discussed derivatives instrument since the
explosion of the recent global credit crunch—are still subject to considerable theoretical and …

In this Article, I begin to assess the current US approach to financial regulation, in light of
recent changes in the financial system, and offer a tentative way to address gaps in …

Financial institutions, especially large banks, have reached beyond their traditional activities
in recent years and have become more homogeneous as a result. Even though this brings …

Section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-
Frank Act), I commonly known as the" Volcker Rule"(for former Federal Reserve Chairman …

We present a banking model with imperfect competition in which borrowers' access to credit
is improved when banks are able to transfer credit risks. However, the market for credit risk …

We examine the impact of credit default swaps (CDS) on lending relationships and credit
market efficiency. CDS insulate lenders against losses from forcing borrowers into default …

The credit default swap (CDS) market attracted much debate during the 2008 financial crisis.
Opponents of CDS argue that CDS could lead to financial instability as it allows speculators …

Businesses in technical bankruptcy are part of the European context, many of them in such
financial distress that they have lost all their equity and a very high percentage of them have …