. To assess the risk and valuation implications of these seasoned equity issuances, we conduct an event analysis using …

We construct a new systemic risk measure that quantifies vulnerability to fire-sale spillovers using detailed … last financial crisis are between two and three times larger. Our systemic risk measure reaches a peak in the fall of 2007 … but shows a notable increase starting in 2004, ahead of many other systemic risk indicators. Although the largest banks …

reinsurance for systemic or 'tail' risk. The structure we propose for the replacement of the GSEs focuses on aligning incentives … capital. We discuss the implications of selling off some of the utility's mortgage credit risk to the capital markets and how … the informational value of such transactions may vary with the level of risk transfer. Finally, we explore how …

paper shows that using rollover risk as a disciplining device is effective only if all banks face purely idiosyncratic risk …