摘要翻译：
我们回顾了2007年8月金融危机爆发后银行间市场的主要变化。我们特别以固定收益市场为研究对象，分析不同期限的银行同业拆息（如Libor和OIS）之间现有基差的最相关的经验证据。我们还讨论了在考虑信用和流动性变量的基础上对这些影响的定性解释。然后，我们将重点关注抵押品协议在场外衍生品市场交易对手之间的扩散，以及由此带来的衍生品定价范式的变化。我们说明了新的市场实践的主要定性特征，称为CSA贴现，并指出了与采用它相关的市场参与者最相关的问题。
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英文标题：
《Markets Evolution After the Credit Crunch》
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作者：
Marco Bianchetti and Mattia Carlicchi
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最新提交年份：
2013
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分类信息：

一级分类：Quantitative Finance        数量金融学
二级分类：Pricing of Securities        证券定价
分类描述：Valuation and hedging of financial securities, their derivatives, and structured products
金融证券及其衍生产品和结构化产品的估值和套期保值
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一级分类：Quantitative Finance        数量金融学
二级分类：Risk Management        风险管理
分类描述：Measurement and management of financial risks in trading, banking, insurance, corporate and other applications
衡量和管理贸易、银行、保险、企业和其他应用中的金融风险
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英文摘要：
  We review the main changes in the interbank market after the financial crisis started in August 2007. In particular, we focus on the fixed income market and we analyse the most relevant empirical evidences regarding the divergence of the existing basis between interbank rates with different tenor, such as Libor and OIS. We also discuss a qualitative explanation of these effects based on the consideration of credit and liquidity variables. Then, we focus our attention on the diffusion of collateral agreements among OTC derivatives market counterparties, and on the consequent change of paradigm for pricing derivatives. We illustrate the main qualitative features of the new market practice, called CSA discounting, and we point out the most relevant issues for market players associated to its adoption.
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PDF链接：
https://arxiv.org/pdf/1301.7078