The paper examines the relative advantages of different organizational structures for cross-border banking groups and their home and host countries, and discusses the factors influencing a banking group's choice of branch versus subsidiaries, as well as the financial stability implications for...

Credit Default Swaps (CDS) are in the process of becoming, liquid and extremelyinformative instruments of default risk. Yet, default swap market has severalnovel aspects that have not received much attention. In this paper we studyan aspect of CDS´s that relates to the prediction of financial...