swaps (CDS). Bank bailout programs changed the composition of both banks' and sovereign balance sheets and, moreover … period before bank bailouts the contagion disperses from bank credit spreads into the sovereign CDS market. After bailouts, a … interdependence of government and bank credit risk is heterogeneous across countries, but homogeneous within the same country …

associated with a variety of transaction- and bank-specific factors …

)coordinated banks and their borrowers, bank strategic (re)actions when they draw their loan contracts and the impact of macroeconomic …