CRTs have changed since the financial crisis. But the eventual credit cycle turn is likely to show again that weaker banks' CRT use merely transformed, but did not eliminate, risk, writes Jill Cetina.

This note examines the transmission of credit risk of banks to the sovereign using the collapse of the Silicon Valley Bank in March 2023—an event that reverberated globally across banking sectors—as ...

Operational risk is often described as the “silent disruptor” of the financial world. Unlike credit risk or market risk, which are measurable and frequently modeled with precision, operational risk is ...