Goderis, Benedikt; Marsh, Ian; Vall Castello, Judit; … - Suomen Pankki - 2007
One of the most important recent innovations in financial markets has been the development of credit derivative … products that allow banks to more actively manage their credit portfolios than ever before. We analyse the effect that access … these markets as a control group. We find that banks that adopt advanced credit risk management techniques (proxied by the …