I credit derivatives nell’economia dei sistemi finanziari tra innovazione e criticità

Research output: Contribution to journalArticlepeer-review


[automatically translated] The work is aimed at understanding the role of the economy credit derivatives instruments of financial systems. Credit derivatives represent a significant form of financial innovation that has a direct impact of the financial intermediaries and, in particular, bank. The use of credit derivatives market makes possible the full or partial transfer of credit risk without the simultaneous transfer of individual credit exposures. This opens up a variety of business decisions of de-integration of the value of the credit intermediation chain and the loan portfolio diversification, however, they do not always lead to a better credit risk management and an efficient allocation of the same in the economic system.
Original languageItalian
Pages (from-to)91-125
Number of pages34
Publication statusPublished - 2011

Cite this