dynamics nullify the strong local (bank-level) lending channel of securitization on credit quantity for firms with multiple … banking relationships. Credit terms however become softer, but there are no real effects. Securitization implies a credit … securitization collapse reverses the local lending channel. …

Asset securitization offers banks the possibility of altering their capital structures and the financial intermediation … process. This study shows that the introduction of securitization is associated with fundamental changes in the funding … policies of banks. In particular, we present evidence of more intense use of securitization by banks (i) with stronger growth …