, this paper argues that macro-prudential regulation is necessary to address the systemic risk inherent to ratings. The paper … and increased illiquidity. The paper suggests the use of "ratings maps" and stress-tests to assess the systemic risk of … ratings, and increased capital or liquidity buffers to manage such risk. …

The increasing ability to trade credit risk in financial markets has facilitated its dispersion across the financial … and other sectors. However, specific risks attached to credit risk transfer (CRT) instruments in a market with still …

consequences for cost of capital, funding patterns, interconnectedness, and risk migration. …

The paper discusses the limits to market-based risk transfer in the financial system and the implications for the … as part of governments' role as a risk manager. …

limitations of the structural models frequently employed in the valuation and risk management activities of their firms. The … mandate to better manage systemic risk exposure, moreover, dovetails in important ways with the aforementioned goal, given … recent advances in the use of structural models in the emerging macrofinance literature for quantifying risk transfer between …

conventional banking sectors to study the credit/investment risk of the two streams of banking. For this study, two portfolios of … indicates conventional banks' inefficiency in credit risk management. Therefore, this study concludes that in managing credit … risk, some indicators support better performance of conventional banks, but some refute the claim. With proper guidelines …

element of risk sharing as opposed to risk transfer. Design/methodology/approach – The approach adopted in this research … involved a combination of a wa’ad (promise) and murabaha (cost plus sale) and examining if they could form a risk … hybrid risk-sharing option by combining elements of both wa’ad (promise) and murabaha (cost plus sale). The results yielded …