12. Afnia, N., Yunus, M., & Putri, E. R. M. (2019). The valuation of deposit insurance with risk using fourier transform. Journal of Physics: Conference Series, 1373(1). [DOI:10.1088/1742-6596/1373/1/012033]

13. Alam, N., Sivarajah, G., & Bhatti, M. I. (2021). Do deposit insurance systems promote banking stability? International Journal of Financial Studies, 9(3). [DOI:10.3390/ijfs9030052]

14. Ananou, F., Chronopoulos, D. K., Tarazi, A., & Wilson, J. O. S. (2021). Liquidity regulation and bank lending. Journal of Corporate Finance, 69. [DOI:10.1016/j.jcorpfin.2021.101997]

15. Azzalini, A., & Capitanio, A. (2003). Distributions generated by perturbation of symmetry with emphasis on a multivariate skew t-distribution. Journal of the Royal Statistical Society. Series B: Statistical Methodology, 65(2), 367-389. [DOI:10.1111/1467-9868.00391]

16. Azzalini, A., & Genton, M. G. (2008). Robust likelihood methods based on the skew-t and related distributions. International Statistical Review. [DOI:10.1111/j.1751-5823.2007.00016.x]

17. Barth, J. R., Nguyen, N., & Xu, J. (2021). Deposit Insurance Schemes. In Encyclopedia of Finance. [DOI:10.1007/978-3-030-73443-5_2-1]

18. Bentes, S. R. (2021). How COVID-19 has affected stock market persistence? Evidence from the G7's. Physica A: Statistical Mechanics and Its Applications, 581. [DOI:10.1016/j.physa.2021.126210] [PMID] []

19. Black, F., & Scholes, M. (1973). The pricing of options and corporate liabilities. Journal of Political Economy, 81(3), 637-657. [DOI:10.1086/260062]

20. Boyle, P. P. (1977). Options: A Monte Carlo approach. Journal of Financial Economics. [DOI:10.1016/0304-405X(77)90005-8]

21. Cabral, C. R. B., Bolfarine, H., & Pereira, J. R. G. (2008). Bayesian density estimation using skew student-t-normal mixtures. Computational Statistics and Data Analysis, 52(12), 5075-5090. [DOI:10.1016/j.csda.2008.05.003]

22. Chang, C. C., Chung, S. L., Ho, R. J., & Hsiao, Y. J. (2022). Revisiting the valuation of deposit insurance. Journal of Futures Markets, 42(1), 77-103. [DOI:10.1002/fut.22284]

23. Chernykh, L., & Kotomin, V. (2022). Risk-based deposit insurance, deposit rates and bank failures: Evidence from Russia. Journal of Banking and Finance, 138. [DOI:10.1016/j.jbankfin.2022.106483]

24. Chiaramonte, L., Girardone, C., Migliavacca, M., & Poli, F. (2020). Deposit insurance schemes and bank stability in Europe: how much does design matter? European Journal of Finance. [DOI:10.1080/1351847X.2019.1607763]

25. Cox, J. C., Ingersoll, J. E., & Ross, S. A. (1985). A Theory of the Term Structure of Interest Rates. Econometrica. [DOI:10.2307/1911242]

26. Dahir, A. M., Mahat, F., Razak, N. H. A., & Bany-Ariffin, A. N. (2019). Capital, funding liquidity, and bank lending in emerging economies: An application of the LSDVC approach. Borsa Istanbul Review, 19(2), 139-148. [DOI:10.1016/j.bir.2018.08.002]

27. Danisewicz, P., Lee, C. H., & Schaeck, K. (2022). Private deposit insurance, deposit flows, bank lending, and moral hazard. Journal of Financial Intermediation, 52. [DOI:10.1016/j.jfi.2022.100967]

28. Dubois, C. (2021). Deposit insurance and financial integration in the Eurozone: A DSGE model. Economics Letters. [DOI:10.1016/j.econlet.2021.110032]

29. Dumas, B., Fleming, J., & Whaley, R. E. (1998). Implied volatility functions: Empirical tests. Journal of Finance, 53(6), 2059-2106. [DOI:10.1111/0022-1082.00083]

30. Ebiaghan, O. F., & Jeroh, E. (2020). Deposit insurance fund and the quality of risk assets of Nigerian deposit money banks. Management Science Letters. [DOI:10.5267/j.msl.2019.10.028]

31. El-Khatib, Y., Goutte, S., Makumbe, Z. S., & Vives, J. (2022). Approximate pricing formula to capture leverage effect and stochastic volatility of a financial asset. Finance Research Letters, 44. [DOI:10.1016/j.frl.2021.102072]

32. Ellyne, M., & Cheng, R. (2014). Valuation of deposit insurance in south africa using an option-based model. African Development Review. [DOI:10.1111/1467-8268.12071]

33. Gatti, M., & Oliviero, T. (2021). Deposit insurance and banks' deposit rates: Evidence from the 2009 eu policy∗. International Journal of Central Banking. [DOI:10.2139/ssrn.3452664]

34. Giller, G. L. (2013). A Generalized Error Distribution. SSRN Electronic Journal. [DOI:10.2139/ssrn.2265027]

35. Grira, J., Hassan, M. K., & Soumaré, I. (2016). Pricing beliefs: Empirical evidence from the implied cost of deposit insurance for Islamic banks. Economic Modelling, 55, 152-168. [DOI:10.1016/j.econmod.2016.01.026]

36. Hariati, N., Yunus, M., & Putri, E. R. M. (2019). Valuation risk adjusted deposit insurance on heston model. Journal of Physics: Conference Series, 1397(1). [DOI:10.1088/1742-6596/1397/1/012078]

37. Hasan, I., Liu, L., Saunders, A., & Zhang, G. (2022). Explicit deposit insurance design: International effects on bank lending during the global financial crisis✰. Journal of Financial Intermediation. [DOI:10.1016/j.jfi.2022.100958]

38. He, X. J., & Chen, W. (2021). A closed-form pricing formula for European options under a new stochastic volatility model with a stochastic long-term mean. Mathematics and Financial Economics, 15(2), 381-396. [DOI:10.1007/s11579-020-00281-y]

39. Heston, S. L. (1993). A Closed-Form Solution for Options with Stochastic Volatility with Applications to Bond and Currency Options. Review of Financial Studies, 6(2), 327-343. [DOI:10.1093/rfs/6.2.327]

40. HULL, J., & WHITE, A. (1987). The Pricing of Options on Assets with Stochastic Volatilities. The Journal of Finance, 42(2), 281-300. [DOI:10.1111/j.1540-6261.1987.tb02568.x]

41. Ji, Y., Bian, W., & Huang, Y. (2018). Deposit insurance, bank exit, and spillover effects. Journal of Banking and Finance, 96, 268-276. [DOI:10.1016/j.jbankfin.2018.09.013]

42. Johnson, H., & Shanno, D. (1987). Option Pricing when the Variance is Changing. The Journal of Financial and Quantitative Analysis. [DOI:10.2307/2330709]

43. Kuznichenko, P., Frolov, S., Orlov, V., & Boiko, O. (2021). European Deposit Insurance Scheme implementation: Pros and cons. In Banks and Bank Systems. [DOI:10.21511/bbs.16(1).2021.11]

44. Le Courtois, O., & Su, X. (2020). Structural Pricing of CoCos and Deposit Insurance with Regime Switching and Jumps. Asia-Pacific Financial Markets. [DOI:10.1007/s10690-020-09304-6]

45. Li, Z. (2020). Equity Option Pricing with Systematic and Idiosyncratic Volatility and Jump Risks. Journal of Risk and Financial Management, 13(1), 16. [DOI:10.3390/jrfm13010016]

46. Lian, Y. M., & Chen, J. H. (2022). Foreign exchange option pricing under regime switching with asymmetrical jumps. Finance Research Letters, 46. [DOI:10.1016/j.frl.2021.102294]

47. Liu, H., Li, R., & Yuan, J. (2018). Deposit insurance pricing under GARCH. Finance Research Letters. [DOI:10.1016/j.frl.2018.02.013]

48. Ma, Y., Chen, L., & Lyu, J. (2021). Option valuation under double exponential jump with stochastic intensity, stochastic interest rates and Markov regime-switching stochastic volatility. Communications in Statistics - Theory and Methods. [DOI:10.1080/03610926.2021.1944214]

49. Merton, R. C. (1977). An analytic derivation of the cost of deposit insurance and loan guarantees An application of modern option pricing theory. Journal of Banking and Finance, 1(1), 3-11. [DOI:10.1016/0378-4266(77)90015-2]

50. Muller, G. E. (2018). An Optimal Investment Strategy and Multiperiod Deposit Insurance Pricing Model for Commercial Banks. Journal of Applied Mathematics, 2018. [DOI:10.1155/2018/8942050]

51. Peia, O., & Vranceanu, R. (2019). Experimental evidence on bank runs with uncertain deposit coverage. Journal of Banking and Finance. [DOI:10.1016/j.jbankfin.2019.06.012]

52. Penikas, H. I. (2021). Premium for implicit deposit insurance within Russian state banks. Voprosy Ekonomiki, 2021(10), 89-112. [DOI:10.32609/0042-8736-2021-10-89-112]

53. Putri, E. R. M., Tjahjono, V. R., & Imron, C. (2021). A Deposit insurance pricing with a multi-state regime-switching volatility. International Journal of Applied and Computational Mathematics, 7(6). [DOI:10.1007/s40819-021-01176-2]

54. Saporito, Y. F., Yang, X., & Zubelli, J. P. (2019). The calibration of stochastic local-volatility models: An inverse problem perspective. Computers and Mathematics with Applications. [DOI:10.1016/j.camwa.2019.01.029]

55. Schellhorn, C. D., & Spellman, L. J. (1996). Subordinated debt prices and forward-looking estimates of bank asset volatility. Journal of Economics and Business, 48(4), 337-347. [DOI:10.1016/0148-6195(96)00018-5]

56. Schillig, M. (2014). Bank resolution regimes in Europe - Part II: Resolution tools and powers. European Business Law Review, 25(Issue 1), 67-102. https://doi.org/10.54648/EULR2014002 [DOI:10.54648/eulr2014002]

57. Shoukry, G. F. (2023). Insurance Pricing, distortions, and moral hazard: Quasi-experimental evidence from deposit insurance. Journal of Financial and Quantitative Analysis. [DOI:10.1017/S0022109022001491]

58. Theodossiou, P. (1998). Financial data and the skewed generalized t distribution. Management Science, 44(12 PART 1), 1650-1661. [DOI:10.1287/mnsc.44.12.1650]

59. Wong, B., & Heyde, C. C. (2006). On changes of measure in stochastic volatility models. Journal of Applied Mathematics and Stochastic Analysis, 2006. [DOI:10.1155/JAMSA/2006/18130]

60. Wong, T. W. (2020). Game theoretic valuation of deposit insurance under jump risk: from too small to survive to too big to fail. Mathematics and Financial Economics, 14(1), 67-95. [DOI:10.1007/s11579-019-00245-x]

61. Wong, T. W., Fung, K. W. T., & Leung, K. S. (2020). Strategic bank closure and deposit insurance valuation. European Journal of Operational Research, 285(1), 96-105. [DOI:10.1016/j.ejor.2018.09.032]

62. Wu, S., Yang, S., Wu, Y., & Zhu, S. (2020). Interval pricing study of deposit insurance in China. Discrete Dynamics in Nature and Society. [DOI:10.1155/2020/1531852]

63. Wu, Y. C., Chen, T. F., & Lin, S. K. (2020). Risk management of deposit insurance corporations with risk-based premiums and credit default swaps. Quantitative Finance, 20(7), 1085-1100. [DOI:10.1080/14697688.2020.1726437]

64. Xue, J., Ding, J., Zhao, L., Zhu, D., & Li, L. (2022). An option pricing model based on a renewable energy price index. Energy, 239. [DOI:10.1016/j.energy.2021.122117]