In a report published today, the Committee on Payments and Market Infrastructures (CPMI) examines developments in the collateral management services industry and the attendant potential settlement-related benefits and risks. The report, Developments in collateral management services, describes...

We analyze the relation between market-based credit risk interconnectedness among banks during the crisis and the associated balance sheet linkages via funding and securities holdings. For identification, we use a proprietary dataset that has the funding positions of banks at the bank-to-bank...