In this study we try to find that whether markets take into account the phenomenon of Too Big to Fail. With the help of CDS market data, which reflects the risk, markets attribute on banks, we calculate the default probabilities of banks in one, two, and three years. Then we regress these...

Despite its widespread use globally, majority of the Turkish financial institutions are still unaware of Credit Default Swaps (CDS), stemming mainly from insufficient financial infrastructure and information base for credit derivatives. This study analyzes Turkish CDS from various perspectives....

This study aims to discover whether markets take into account the phenomenon known as Too Big to Fail. Using Credit Default Swaps market data, which reflects the risk, markets attribute to banks, we calculate the default probabilities of banks over one, two, and three year periods. These results...

Systemic risk and fragility became more important especially after the crisis of 2008. However, the burgeoning literature especially focuses on interbank and bank-firm credit networks. On the other hand, in developing countries, deferred check payments also compose another kind of credit...