CDS spreads and facilitates cross-border financial-crisis spillovers. Risks spill over from risky periphery sovereigns to …

Using a comprehensive dataset from German banks, we document the usage of sovereign credit default swaps (CDS) during … the European sovereign debt crisis of 2008-2013. Banks used the sovereign CDS market to extend, rather than hedge, their … protection selling in CDS, the effect being weaker when sovereign risk is high. Bank and country risk variables are mostly not …

multivariate GARCH model to sovereign CDS spreads of 17 countries over the period 2008 to 2012. Second, we separate periods of …

Using a comprehensive dataset from German banks, we document the usage of sovereign credit default swaps (CDS) during … the European sovereign debt crisis of 2008-2013. Banks used the sovereign CDS market to extend, rather than hedge, their … protection selling in CDS, the effect being weaker when sovereign risk is high. Bank and country risk variables are mostly not …

Using a comprehensive dataset from German banks, we document the usage of sovereign credit default swaps (CDS) during … the European sovereign debt crisis of 2008-2013. Banks used the sovereign CDS market to extend, rather than hedge, their … protection selling in CDS, the effect being weaker when sovereign risk is high. Bank and country risk variables are mostly not …

Following the 2008 financial crisis, regulation mandates the clearing of the CDS market through Central Clearing …-mediated contagion and its amplification. A novel spatial measure captures the covariance between members' CDS holdings and the CDS being … unwound. Key results show: Liquidations by constrained members lower the CCP's profits and make cds-spreads less informative …

Recent regulation mandating the clearing of credit default swaps (CDS) by a Central Clearing Counterparties (CCP), has …

A small segment of credit default swaps (CDS) on residential mortgage backed securities (RMBS) stand implicated in the … 2007 financial crisis. The dominance of a few big players in the chains of insurance and reinsurance for CDS credit risk … payer bailout. We provide an empirical reconstruction of the US CDS network based on the FDIC Call Reports for off balance …