fixation length tracks the life-cycle decline of credit risk in the mortgage market: the loan-to-value (LTV) ratio decreases …-LTV borrowers, who pay large initial credit spreads, trade off their insurance motive against reducing credit spreads over time …

This paper examines banks' disclosures and loss recognition in the financial crisis and identifies several core issues …, banks' disclosures about relevant risk exposures were relatively sparse. Such disclosures came later after major concerns … about banks' exposures had arisen in markets. Similarly, the recognition of loan losses was relatively slow and delayed …

financial stability. Our analysis suggests that, going into the financial crisis, banks' disclosures about relevant risk … exposures were relatively sparse. Such disclosures came later after major concerns about banks' exposures had arisen in markets …. Similarly, banks delayed the recognition of loan losses. Banks' incentives seem to drive this evidence, suggesting that …

asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem …Banks provide risky loans to firms which have superior information regarding the quality of their projects. Due to … distorts the operation of credit markets. We show that a binding CVaR constraint introduces credit rationing and lowers social …

Using within-loan estimations to remove the impact of the demand side factors, we find that the capital levels of banks … participating in the same syndicated loan are positively associated with the banks' contributions to the loan. Consistent with the … among banks that rely more on wholesale funding. Furthermore, we find that banks increase their contributions to syndicated …

In this paper we review the pricing and model calibration of Credit Default Swaps referring to both the International … Swaps and Derivatives Association (ISDA) CDS contract and credit model standardization guidelines. Furthermore we provide an … Excel pricing workbook to supplement the materials discussed. The main goal is for this paper to act as a credit primer and …

opportunity for unlisted firms. Using the Italian Credit Register, we investigate the impact of minibond issuance on bank credit … maturity than non-issuer firms do, suggesting an improvement in their bargaining power with banks. In addition, issuer firms … reduce the amount of used bank credit but increase the overall amount of available external funds, pointing to a substitution …

The development of credit information sharing schemes in developing countries has gained significant attention in … credit information sharing on credit intermediation cost in these countries, and consequently ascertain the extent to which … the credit information sharing–credit intermediation cost nexus may be accentuated by banking market concentration and …

power with banks. Issuer firms also reduce the amount of used bank credit, expand their total and fixed assets, and raise … regulatory reform which allowed unlisted firms to issue minibonds. Using the Italian Credit Register, we compare new loans …