framework for the financial system for assessing the impact of securitization on financial stability. If securitization leads to … consequences for financial stability. Covered bonds are one form of securitization that do not fall foul of this principle. I …

the "fuzziness" with which financial (in)stability can be measured. We review the available measurement methodologies and … stabilisers rather than discretion, thereby lessening the burden on the real-time measurement of financial stability risks; and …

for the efficiency and stability of the financial system. After an overview of recent credit risk transfer activity, the …