{"publication_status":"unpublished","department":[{"_id":"186"},{"_id":"188"}],"abstract":[{"lang":"eng","text":"This paper empirically investigates determinants of the outstanding net notional amount\r\nof credit default swaps (CDSs) contracts written on banks. We extend and complement the\r\nprevious literature dealing with CDS trading by analyzing a comprehensive set of CDS tradingspecific,\r\nbank-fundamental, macroeconomic and bank-institutional determinants. We find that\r\nrisk hedging clearly dominates an investor’s speculation and arbitrage motive, while the latter,\r\nhowever, exhibits the strongest impact on the outstanding net notional amount of bank CDSs.\r\nFurthermore, being classified as a G-SIB, being a constituent of the main CDS index and the\r\nequity trading volume may significantly explain changes in the outstanding CDS net notional on\r\nbanks. The analysis at hand provides important implications for both academics and practitioners,\r\nsince understanding the trading motives of bank CDS investors provides a deeper insight into the\r\nopaque CDS market. "}],"keyword":["banking","outstanding CDS net notional","determinants of bank CDS trading"],"title":"Determinants of CDS Trading on Major Banks","author":[{"last_name":"Hippert","full_name":"Hippert, Benjamin","first_name":"Benjamin"},{"full_name":"Uhde, André","id":"36049","last_name":"Uhde","first_name":"André"},{"full_name":"Wengerek, Sascha Tobias","last_name":"Wengerek","first_name":"Sascha Tobias"}],"citation":{"mla":"Hippert, Benjamin, et al. <i>Determinants of CDS Trading on Major Banks</i>.","apa":"Hippert, B., Uhde, A., &#38; Wengerek, S. T. (n.d.). <i>Determinants of CDS Trading on Major Banks</i>.","short":"B. Hippert, A. Uhde, S.T. Wengerek, Determinants of CDS Trading on Major Banks, n.d.","chicago":"Hippert, Benjamin, André Uhde, and Sascha Tobias Wengerek. <i>Determinants of CDS Trading on Major Banks</i>, n.d.","ieee":"B. Hippert, A. Uhde, and S. T. Wengerek, <i>Determinants of CDS Trading on Major Banks</i>. .","bibtex":"@book{Hippert_Uhde_Wengerek, title={Determinants of CDS Trading on Major Banks}, author={Hippert, Benjamin and Uhde, André and Wengerek, Sascha Tobias} }","ama":"Hippert B, Uhde A, Wengerek ST. <i>Determinants of CDS Trading on Major Banks</i>."},"status":"public","jel":["G10","G12","G21"],"user_id":"36049","_id":"36063","language":[{"iso":"eng"}],"date_created":"2023-01-11T11:34:17Z","type":"working_paper","year":"2021","date_updated":"2023-11-17T10:23:44Z"}