We define risk transfer as the percent change in the market risk exposure for a group of investors over a given period. We estimate risk transfer using novel data on U.S. investors' portfolio holdings ...

Quietly, with little fanfare, a niche market for credit risk transfer is emerging. Banks and lawyers report growing interest in structures that enable derivatives dealers to offload unwanted ...

U.S. corporate pension plans are estimated to be 100% funded for the first time since the Great Financial Crisis. In 2024, ...