Topic: Financial Institutions

1. The Syndicated Loan Market: Developments in the North American Context

   Working Paper 2003-15 - Jim Armstrong

   The author describes the rapid development of the syndicated corporate loan market in the 1990s. He explores the historical forces that led to the development of the contemporary U.S. syndicated loan market, which is effectively a hybrid of the investment banking and commercial banking worlds.

   Topics: Financial Institutions; Financial markets

2. An Index of Financial Stress for Canada

   Working Paper 2003-14 - Mark Illing, Ying Liu

   The authors develop an index of financial stress for the Canadian financial system. Stress is defined as the force exerted on economic agents by uncertainty and changing expectations of loss in financial markets and institutions.

   Topics: Financial Institutions; Financial markets