The Role of Counterparty Risk in CHAPS Following the Collapse of Lehman Brothers
(2014)
Journal Article
Benos, E., Stability, F., Garratt, R., & Zimmerman, P. (2014). The Role of Counterparty Risk in CHAPS Following the Collapse of Lehman Brothers. International Journal of Central Banking, 10(4), 143-171
We study the impact of the global financial crisis on CHAPS, the United Kingdom's large-value wholesale payments system, over the period 2006-2009. Payments data show that in the two months following the Lehman Brothers failure, banks did, on average... Read More about The Role of Counterparty Risk in CHAPS Following the Collapse of Lehman Brothers.