| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16744 |
| DP16744 CDS and Credit: After the Bangs Cheaper Credit Insurance, More Lending and Hedging | |
| Steven Ongena; Günseli Tümer-Alkan; Yuejuan Yu | |
| 发表日期 | 2021-11-22 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Does the cost of credit insurance affect the availability of credit? To answer this question, we couple comprehensive bank-firm level CDS trading data from DTCC to the German credit register containing bilateral bank-firm credit exposures. We assess the differential impact on market participants of the “Big Bang” and “Small Bang” standardization across CDS markets. We find that after the Bangs, the cost of buying CDS contracts becomes lower for non-dealer banks, and that – because of this decrease in insurance cost – these banks extend more credit to CDS traded and affected firms, and also hedge more effectively. |
| 主题 | Financial Economics |
| URL | https://cepr.org/publications/dp16744 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545678 |
| 推荐引用方式 GB/T 7714 | Steven Ongena,Günseli Tümer-Alkan,Yuejuan Yu. DP16744 CDS and Credit: After the Bangs Cheaper Credit Insurance, More Lending and Hedging. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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