
Joint Forum release of "Credit risk transfer" paper
By Bank for International Settlements (BIS)
This 2008 consultation paper from the Joint Forum serves as a "real-time" post-mortem of the technical failures that triggered the Global Financial Crisis. Commissioned by the Financial Stability Forum (FSF), the paper investigates how rapid innovation in Credit Risk Transfer (CRT) tools—specifically Credit Default Swaps (CDS) and Collateralised Debt Obligations (CDOs)—outpaced the ability of…
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