Bankruptcy of systemically-important financial institutions shows the importance of knowing the precise instant in time when termination of a major participant in cross-border payment and settlement systems occurs, in order to avoid instability in the whole financial system and its negative...

Earlier analyses of area yield crop insurance schemes used a linear additive model (LAM) to express the relationship between individual and area yield. Although similar to the capital asset pricing model used in finance, the theoretical foundations of the LAM are unknown. A contribution of this...

The aim of this essay is to provide an overview of the Financial Stability Board’s (FSB) mandate and tools to safeguard financial stability and reduce systemic risks based on the methodological perspective of a legal analysis. It examines some of the recommendations that the FSB has published,...

With hindsight, the subprime crisis highlighted the importance of high correlation regimes and systemic risks and contagion. It is mainly about them that this paper will focus on, in the context of the liquid index tranches but also for European Prime RMBS and SME securitizations.