-limited liquidity means that its rapid expansion may actually pose problems for financial sector stability in the event of a major …

, this paper argues that macro-prudential regulation is necessary to address the systemic risk inherent to ratings. The paper … ratings, and increased capital or liquidity buffers to manage such risk. …

€™s vulnerability to exogenous shocks, including the outbreak of Severe Acute Respiratory Syndrome (SARS). Systemic liquidity is well …

financial markets-borrowers, lenders, liquidity providers, and regulators-whose actions determine whether and how markets …

This paper examines equilibrium price relationships and price discovery between credit defaul swap (CDS), bond, and …

Credit derivative markets are largely unregulated, but calls are increasingly being made for changes to this "hands off …. The purpose of this paper is to address two basic questions: (i) do credit derivative markets increase systemic risk; and … of credit derivative markets and recent events, followed by an assessment of their recent association with systemic risk …

India’s financial system compares favorably internationally, but rising credit risk and liquidity pressures are … liquidity requirement together with stepped-up open market operations have been fully warranted. …