Following the 2008 financial crisis, regulation mandates the clearing of the CDS market through Central Clearing …

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

collateral costs related to central clearing … risk, my results indicate that CDS spreads widen with the initiation of central clearing. I document that even though … dealer risk is priced in CDS spreads and an increase in dealer risk narrows spreads, the initiation of central clearing does …

We present a network model for investigating the impact on systemic risk of central clearing of over the counter (OTC … banks and use this model to investigate the impact of central clearing on network stability. We find that, when interest … rate swaps are cleared, central clearing of credit default swaps through a well-capitalized CCP can reduce the probability …

Conventional collateral requirements are highly conservative but are not explicitly designed to deal with systemic risk …. This paper explores the adequacy of conventional collateral levels against systemic risk in the Canadian futures market … during the 2008 crisis. Our results show that conventional collateral levels adequately absorb crisis-level systemic risk …