Caglio, Cecilia; Darst, R. Matthew; Parolin, Eric - 2018 - Current version: January 31, 2018
We construct a novel U.S. data set that matches bank holding company credit default swap (CDS) positions to detailed U.S. credit registry data containing both loan and corporate bond holdings to study the effects of banks' CDS use on corporate credit quality. Banks may use CDS to mitigate agency...