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Anatomy of the Credit Crisis: The role of Faulty Risk Management Systems

  • Frank Milne

    (Queen's University)

The current credit market crisis reflects system-wide problems in the trading and hedging of credit risks. It started in the US mortgage market, but it has spread more generally into other credit markets, where perceived counter-party risks between financial institutions have risen, impairing their operation. This is an international, systemic problem, which has become more serious as time has passed.

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Article provided by C.D. Howe Institute in its journal C.D. Howe Institute Commentary.

Volume (Year): (2008)
Issue (Month): 269 (July)
Pages:

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Handle: RePEc:cdh:commen:269
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  1. Colin Busby & William Robson, 2013. "Canada's 2012 Fiscal Accountability Rankings," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 373, February.
  2. repec:uwo:epuwoc:20048 is not listed on IDEAS
  3. Charles Calomiris & Joseph Mason, 2004. "Credit Card Securitization and Regulatory Arbitrage," Journal of Financial Services Research, Springer, vol. 26(1), pages 5-27, August.
  4. Helmut Elsinger & Alfred Lehar & Martin Summer, 2002. "Risk Assessment for Banking Systems," Working Papers 79, Oesterreichische Nationalbank (Austrian Central Bank).
  5. Christian Upper, 2007. "Using counterfactual simulations to assess the danger of contagion in interbank markets," BIS Working Papers 234, Bank for International Settlements.
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