Financial Institutions
-
The Impact of Unanticipated Defaults in Canada's Large Value Transfer System
Canada's Large Value Transfer System (LVTS) is designed to meet international risk-proofing standards at a minimum cost to participants in terms of collateral requirements. -
Pocket Banks and Out-of-Pocket Losses: Links between Corruption and Contagion
The author describes a model with a corrupt banking system, in which bankers knowingly lend at market interest rates to back projects riskier than the market rate indicates.