G3 - Corporate Finance and Governance - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T02:01:15+00:00Liquidity and Central Clearing: Evidence from the CDS Market
https://www.bankofcanada.ca/2012/12/working-paper-2012-38/
An international initiative to increase the use of central clearing for OTC derivatives emerged as one of the reactions to the 2008 financial crisis. The move to central clearing is a fundamental change in the structure of the market.2012-12-06T13:06:17+00:00enLiquidity and Central Clearing: Evidence from the CDS Market2012-12-06Financial marketsWorking Paper 2012-38https://www.bankofcanada.ca/wp-content/uploads/2012/12/wp2012-38.pdfLiquidity and Central Clearing: Evidence from the CDS MarketJoshua SliveJonathan WitmerElizabeth WoodmanDecember 2012GG3G30G38Systematic Risk, Debt Maturity and the Term Structure of Credit Spreads
https://www.bankofcanada.ca/2012/08/working-paper-2012-27/
We build a dynamic capital structure model to study the link between systematic risk exposure and debt maturity, as well as their joint impact on the term structure of credit spreads. Our model allows for time variation and lumpiness in the maturity structure. Relative to short-term debt, long-term debt is less prone to rollover risks, but its illiquidity raises the costs of financing.2012-08-27T11:03:38+00:00enSystematic Risk, Debt Maturity and the Term Structure of Credit Spreads2012-08-27Asset pricingDebt managementWorking Paper 2012-27https://www.bankofcanada.ca/wp-content/uploads/2012/08/wp2012-27.pdfSystematic Risk, Debt Maturity and the Term Structure of Credit SpreadsHui ChenYu XuJun YangAugust 2012GG3G32G33The Ex-Ante Versus Ex-Post Effect of Public Guarantees
https://www.bankofcanada.ca/2012/07/working-paper-2012-22/
In October 2006, Dominion Bond Rating Service (DBRS) introduced new ratings for banks that account for the potential of government support. The rating changes are not a reflection of any changes in the respective banks’ credit fundamentals.2012-07-27T12:18:19+00:00enThe Ex-Ante Versus Ex-Post Effect of Public Guarantees2012-07-27Financial institutionsFinancial stabilityFinancial system regulation and policiesWorking Paper 2012-22https://www.bankofcanada.ca/wp-content/uploads/2012/07/wp2012-22.pdfThe Ex-Ante Versus Ex-Post Effect of Public GuaranteesH. Evren DamarReint GroppAdi MordelJuly 2012GG2G21G28G3G32