reporting affect the trading spreads of private debt securities. There are two primary findings. First, the bid-ask spread in … arrangers, distressed loans, and loans of loss firms are traded at significantly higher bid-ask spreads. Second, timely …

Covered bonds and mortgage-backed securities both allow mortgages to be financed with duration-matched bonds. Given the … problems in the MBS market during the financial crisis, some suggest that covered bonds might be a substitute for MBS. We … examine the use of covered bonds and MBS in the U.S. and Europe, finding that the two are used for different purposes. Covered …