We model the unsecured overnight market in the United Kingdom as a network of relationships and examine how the … structure has changed over the recent period of crisis. Using established network techniques, we find strong evidence of the …

Traditionally, regulation of banks has focused on the riskentailed in bank loans. Loans are typically nontradedassets …. In recent years, another component of bank assetshas become increasingly important: assets actively tradedin the … financial markets.1 These assets form the “tradingbook” of a bank, in contrast to the “banking book,” whichincludes the …