the gap in financing that cannot be fulfilled by banks. However, the rapid development of P2PL also raises a number of …

of contagion by endogenizing leverage (margin), asset prices, and network formation. Agents face a tradeoff between … leverage and counterparty risk. Diversification of counterparty risk generates positive externalities by reducing systemic risk …, but comes at the cost of lower leverage. Thus, any decentralized equilibrium is inefficient due to under …

Traditionally banks have used securitization for expanding credit and thus their profitability. It has been well … documented that, at least before the 2008 crisis, many banks were keeping a high proportion of the securities that they created …-rated tranche. This paper builds a simple model of securitization that accounts for the above retention strategies. Banks in the …

Traditionally banks have used securitization for expanding credit and thus their profitability. It has been well … documented that, at least before the 2008 crisis, many banks were keeping a high proportion of the securities that they created …-rated tranche. This paper builds a simple model of securitization that accounts for the above retention strategies. Banks in the …

, banks are the main source of financing, and the lack of a comprehensive credit rating database has been a bottleneck for …-financial ratios is not possible, by using data on lending by banks to SMEs. We employ statistical techniques on five variables from a … sample of Thai SMEs and classify them into subgroups based on their financial health. By employing these techniques, banks …

of these enterprises is their difficulty in accessing finance from banks and other financial institutions. The Credit … gain easier access to loans from banks without providing collateral. The CSF pools contributions from cooperatives and …