banks to public accounts as a consequence of implicit or explicit bailout guarantees to distressed banking systems. This …This paper investigates the role of banks foreign asset holdings in transmitting credit risk internationally. Foreign … paper articulates this mechanism with a simple model where governments choose to fill banks' capital gaps to self …

and sovereign CDS spreads. The main private beneficiaries were bank creditors, especially of banks heavily exposed to … debt exposures, suggesting that banks saw their contingent claim on the financial safety net increase in value …

cost of borrowing of these countries on stock returns of banks from other countries. We find that tail sovereign GIIPS CDS … benchmark specification, holdings of peripheral country bonds by banks from other countries do not constitute a statistically or …