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Did the Federal Reserve’s MBS Purchase Program Lower Mortgage Rates?

Hancock, Diana - 2011

We employ empirical pricing models for mortgage-backed security (MBS) yields and for mortgage rates to measure deviations from normal market functioning in order to assess how the Federal Reserve MBS purchase program -- a 16 month program announced on November 25, 2008 and completed on March 31,...

Persistent link: https://www.econbiz.de/10013118623

The Impact of the Federal Reserve's Large-Scale Asset Purchase Programs on Corporate Credit Risk

Gilchrist, Simon - 2013

Estimating the effect of Federal Reserve's announcements of Large-Scale Asset Purchase (LSAP) programs on corporate credit risk is complicated by the simultaneity of policy decisions and movements in prices of risky financial assets, as well as by the fact that both interest rates of assets...

Persistent link: https://www.econbiz.de/10013073602

How the Federal Reserve's Large-Scale Asset Purchases (LSAPs) Influence Mortgage-Backed Securities (MBS) Yields and U.S. Mortgage Rates

Hancock, Diana - 2014

We conduct an empirical analysis of the Federal Reserve's large-scale asset purchases (LSAPs) on MBS yields and mortgage rates. The Federal Reserve's accumulation of MBS and Treasury securities lowered MBS yields and mortgage rates by more than what would have been suggested by changes in market...

Persistent link: https://www.econbiz.de/10013059311

Crisis Liquidity Facilities with Nonbank Counterparties : Lessons from the Term Asset-Backed Securities Loan Facility

Meisenzahl, Ralf; Pence, Karen M. - 2022

In response to immense strains in the asset-backed securities market in 2008 and 2020, the Federal Reserve and the U.S. Treasury twice launched the Term Asset-Backed Securities Loan Facility (TALF). TALF was an unusual crisis facility because it provided loans to a wide range of nonbank...

Persistent link: https://www.econbiz.de/10013291550

Economic Volatility and Financial Markets : The Case of Mortgage-Backed Securities

Antinolfi, Gaetano - 2013

The volatility of aggregate economic activity in the United States decreased markedly in the mid eighties. The decrease involved several components of GDP and has been linked to a more stable economic environment, identified by smaller shocks and more effective policy, and a diverse set of...

Persistent link: https://www.econbiz.de/10013078453

Commercial Law Aspects of Residential Mortgage Securitisation in Australia

Rajapakse, Pelma; Senarath, Shanuka - 2019

1. Introduction -- 2. Towards Formulating a Conceptual Framework -- 3. Structuring and Issuance in Residential Mortgage Securitisation -- 4. Mortgage Origination -- 5. The Legal Process for Transferring Mortgagee’s Rights to the Special Purpose Vehicle -- 6. Law And Regulation of the Issue of...

Persistent link: https://www.econbiz.de/10012398479

Securitization Markets and Central Banking : An Evaluation of the Term Asset-Backed Securities Loan Facility

Campbell, Sean D. - 2011

-Backed Securities Loan Facility, which offered non-recourse loans to finance investors' purchases of certain highly rated asset …

Persistent link: https://www.econbiz.de/10013127085

Safe Collateral, Arm's-Length Credit : Evidence from the Commercial Real Estate Mortgage Market

Black, Lamont; Krainer, John; Nichols, Joseph - 2017

When collateral is safe, there are less opportunities for things to go wrong. We examine matching between collateral and creditors in the commercial real estate mortgage market by comparing loans in commercial mortgage backed securities (CMBS) conduits and bank portfolios. We model CMBS...

Persistent link: https://www.econbiz.de/10014121171

Post-Crisis Signals in Securitization : Evidence from Auto Abs

Syron Ferris, Erin; Shin, Chaehee - 2020

quantify its effect on signaling and pricing. We show that lenders "self-finance'' unobservably higher-quality loans by holding …

Persistent link: https://www.econbiz.de/10014048852

Sustainability in Energy Business and Finance : Approaches and Developments in the Energy Market

Dinçer, Hasan (ed.); Yüksel, Serhat (ed.) - 2022

This edited volume seeks to identify the sustainability issues currently affecting the energy business and finance. For … this purpose, a broad range of perspectives on sustainability issues in the energy business and finance are taken into … consideration in the context of renewable business projects. In turn, several novel strategies from the energy business and finance …

Persistent link: https://www.econbiz.de/10012821387