. In this paper we raise the question whether credit asset securitization affects the cyclicality (or commonality) of bank … framework for the risk transfer through securitization that builds on a macro risk factor and an idiosyncratic risk factor … the correlation properties both within and across risk classes. We then determine the effect of securitization on the …

Shocks to bank lending, risk-taking and securitization activities that are orthogonal to real economy and monetary … type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank … using a model of bank risk-taking and securitization. …

their securitization decision. We also assess the case for requiring financial institutions to defer bonus pay so as to make … interaction of financial institutions' internal agency problems with the external agency problem that arises from securitization. …

England’s liquidity management, regulatory failure of the FSA, an inadequate deposit insurance arrangement and deficient …

Securitization of LDC debt would significantly aid the international debt problem by increasing liquidity and expanding … the range of investors. Securitization is problematic, however, in large part due to sovereign risks involved. At present …

Banks have been heavily involved in securitization. We study whether the involvedness of a firm’s main bank into … different types of securitization activity -- asset backed securities (ABS) and covered bonds -- influences credit supply before … and during the 2007-8 financial crisis. Both types of securitization allow the bank to generate liquidity. To the extent …