How Much Do Banks Use Credit Derivatives to Hedge Loans?

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Securitization and Bank Performance (2013, methodology): “Purnanandam (2009) also provides evidence that shows that US banks used the proceeds from securitizations to issue loans with higher than average default risk.”
Laying off credit risk: Loan sales versus credit default swaps (2013, unknown): “The result that CDS are never strictly preferred to loan sales is consistent with Minton et al's (2008) finding that the two tend to be complements.”
Financial Innovation and Bank Behavior: Evidence from Credit Markets (2014, unknown): “…thus lend support to the hypothesis that banks use credit derivatives to manage risks more effectively and 11We have also estimated our model using the approach in Minton et al. (2009) to exclude dealers from the sample, which is only to include banks with a (strictly) positive net position.”
Credit Default Swaps: A Survey (2014, background): “As discussed in Mitchell and Pulvino (2012), debt financing risk can not only drive the basis into negative territory, but also prevent arbitrageurs from profiting from such arbitrage opportunities.”
Credit Default Swaps and the Credit Crisis (2009, unknown): “Few banks take positions in CDS and Minton, Stulz, and Williamson (2009) show that the 23 U.S bank holding companies with CDS positions in 2005 hedged on average 2% of their loans with these instruments.”