Recent regulation mandating the clearing of credit default swaps (CDS) by a Central Clearing Counterparties (CCP), has …

Over the past few years the CDS market's role has evolved from mostly providing default protection towards credit risk … trading. The first-ever credit event in a developed country's sovereign CDS has further highlighted the importance of the CDS … market from a macro-prudential perspective. Developments in the European sovereign CDS market are a part of the major …

CDS spreads and facilitates cross-border financial-crisis spillovers. Risks spill over from risky periphery sovereigns to …

This paper addresses the following questions. Is there evidence of financial contagion in the Eurozone? To what extent … a country's vulnerability to contagion depends on "fundamentals" as opposed the government's "credibility"? We look at … the empirical evidence on European sovereigns CDS spreads and estimate an econometric model where a crucial role is played …

-mediated contagion and its amplification. A novel spatial measure captures the covariance between members' CDS holdings and the CDS being …Following the 2008 financial crisis, regulation mandates the clearing of the CDS market through Central Clearing …'s default and the ensuing default contagion. In unwinding the defaulter's positions, the CCP faces the price impact of …