This study assesses systemic risk in the US credit default swap (CDS) market. After the bankruptcy of Lehman Brothers, the market introduced risk mitigation tools, such as central clearing and portfolio compression in addition to existing netting and collateralization. Because CDSs typically...

This paper contributes to the literature on systemic risk by examining the network structure of bilateral exposures in the global banking system. The global interbank market constitutes a major part of the global banking system. The market has a hierarchical network structure, composed of the...

This paper contributes to the literature on systemic risk by assessing the network structure of bilateral insurance exposures in the global non-life insurance market. The reinsurance is the major risk transfer function in the global insurance market and its network has a hierarchical structure....

This paper contributes to the systemic risk literature by assessing the network structure of bilateral exposures in the Japanese interbank market. The Japanese interbank market is composed of call and bankers' acceptance markets, and the market participants are restricted to financial...