Access Statistics for Marc Arnold

Author contact details at EconPapers.

Working Paper File Downloads Abstract Views
Last month 3 months 12 months Total Last month 3 months 12 months Total
Banks’ Loan Screening Incentives with Credit Risk Transfer: An Alternative to Risk Retention 0 0 3 25 2 4 20 78
Financing Asset Sales and Business Cycles 0 0 3 23 0 4 14 72
Macroeconomic Conditions, Growth Opportunities and the Cross-Section of Credit Risk 0 0 0 32 0 1 5 122
Neglected Risk: Evidence from Structured Product Counterparty Exposure 1 1 5 22 3 4 18 55
The Value of Creditor Governance: Debt Renegotiations In and Outside Distress 1 1 12 19 3 8 28 50
This article analyzes the impact of the introduction of centrally cleared credit risk transfer on a loan originating bank's lending discipline in the primary loan market. Under Basel III, a bank can transfer credit risk via central clearing at favorable regulatory conditions. Central clearing, however, reduces the lending discipline because the fact that only standardized contracts can be centrally cleared allows the originating bank to profitably grant and hedge a low quality loan. The impact on the lending discipline crucially depends on the regulatory design of central clearing such as capital requirements, disclosure standards, risk retention, and access to uncleared credit risk transfer. I also show that the lending discipline is an important determinant of the impact of central clearing on system risk 0 1 3 31 2 5 24 79
Total Working Papers 2 3 26 152 10 26 109 456


Journal Article File Downloads Abstract Views
Last month 3 months 12 months Total Last month 3 months 12 months Total
Growth options, macroeconomic conditions, and the cross section of credit risk 0 0 1 28 0 2 12 139
Managerial cash use, default, and corporate financial policies 1 2 5 14 2 5 12 48
Total Journal Articles 1 2 6 42 2 7 24 187


Statistics updated 2017-12-03