The use of collateral has become one of the most widespread risk mitigation techniques. While it brings stabilizing … effects to the individual lender we argue that it may exacerbate systemic risk through margin call activation. We show how a …

increased moderately. This de-leveraging effect is stronger for firms exposed to significant rollover risk, while firms whose …

We analyze a range of macrofinancial indicators to extract signals about cyclical systemic risk across 107 economies … patterns over the financial cycle. We find that liquidity and solvency risk indicators tend to be counter-cyclical, whereas … mispricing risk ones are procyclical, and they all lead the credit cycle. Our results lend support to high-level accounts that …

This paper assesses liquidity risk for the United States (U.S.) bond mutual funds industry and performs a range of …

The growth-at-risk (GaR) framework links current macrofinancial conditions to the distribution of future growth. Its … GaR analysis, policymakers can quantify the likelihood of risk scenarios, which would serve as a basis for preemptive …

Cyber risk is an emerging source of systemic risk in the financial sector, and possibly a macro-critical risk too. It … approaches to assess and monitor cyber risk to the financial sector, including various approaches to stress testing. The paper …