Schmeiser, Hato; Wagner, Joël; Zemp, Alexandra - In: The European Journal of Finance 20 (2014) 12, pp. 1133-1160
In this paper, we introduce a capital market-based financial guaranty system as an alternative to current insurance guaranty funds and deposit insurance systems. The guaranty system secures clients' claims for the event of default by the financial company using a special purpose vehicle which...