Léon, Carlos; Machado, Clara; Cepeda, Freddy; … - Banco de la Republica de Colombia
The most recent episode of market turmoil exposed the limitations resulting from the traditional focus on too-big-to-fail institutions within an increasingly systemic-crisis-prone financial system, and encouraged the appearance of the too-connected-to-fail (TCTF) concept. The TCTF concept...