overconfidence in CCPs by which regulation grants financial institutions the benefit to account for credit risk exposure as zero when …This paper studies the nature of systemic risk as an ongoing threat within the Colombian financial system, focusing on … the derivatives market and SIFIs' designation design. By doing so, it overviews the leading literature on systemic risk to …

regulation, recovery and resolution, and risk culture. …

Bank regulation is based on the premise that risks spill over more easily from large banks to the banking system than … vice versa. On the contrary, we document that risk transmission is stronger in the system-to-bank direction. We term this … asymmetric systemic risk, measure it with net exposure metrics, and explore the consequences and channels behind it. We show that …