banquedefranceBanque de France148413381135291597701/20/2022 - 13:00📝 [WP] How do #CDS reallocate #credit #risk? A micro-level analysis on French data shows that CDS facilitate diversification & risk-taking. Portfolio risk overall ↗️, due to a limited effect of hedging strategies compared to speculative ones. #BdFeco 👇 https://t.co/Kd6tX8x6pL