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JOURNAL OF ACCOUNTING AND FINANCE
US Banks Participation in Credit Derivatives and the Financial Crisis
Author(s): Paul Abbondante, Adham Chehab, Yibo Xiao
Citation: Paul Abbondante, Adham Chehab, Yibo Xiao, (2020) "US Banks Participation in Credit Derivatives and the Financial Crisis," Journal of Accounting and Finance, Vol. 20, ss. 8, pp. 45-64
Article Type: Research paper
Publisher: North American Business Press
Abstract:
This paper was a study of US bank participation in credit derivatives around the financial crisis of 2008 by using data between 1997 and 2017. The results from a more detailed analysis showed that the financial crisis represented a transitional period for US banks’ holdings of credit derivatives. The results indicate that US banks increased their hedging and their appetite for risk. The financial crisis also represented a structural change in type of loans held by participating US banks. The results show that US banks converged towards hedging around the financial crisis in credit derivatives.
