identify the supply curve facing a bank borrower in the interbank market and study how access to overnight credit is affected … to adverse changes in public information about credit quality by restricting access to the market in a fashion consistent … credit quality by increasing leverage so as to offset the future impact on earnings. While the responsiveness of investors to …

different PD estimation methods-cohort and duration (intensity)-using twenty-two years of credit ratings data. We find that the …

Credit derivatives are the latest in a series of innovations that have had a significant impact on credit markets …. Using a micro data set of individual corporate loans, this paper explores whether use of credit derivatives is associated … with an increase in bank credit supply. The author finds evidence that greater use of credit derivatives is associated with …