Before revision:  In a default cascade, insolvency of a given bank will create a shock to the asset side of the balance sheet of each of its creditor banks . Under some circumstances, such "downstream" shocks can cause further insolvencies that may build up to create a global insolvency cascade.
After revision:  In a default cascade, insolvency of a given bank will create a shock to the asset side of the balance sheet of each of its creditor banks and under some circumstances, such "downstream" shocks can cause further insolvencies that may build up to create a global insolvency cascade.