-rated tranches. We find, however, that banks active in securitization held more highly-rated tranches. Such a result can be …

We survey the literature on securitization and lay out a research program for its open questions. Securitization is the … markets. Securitization has grown from a small amount in 1990 to a pre-crisis issuance amount that makes it one of the largest … of the recent financial crisis. Nevertheless, despite the transformative effect of securitization on financial …

-term market that provides financing for a wide range of securitization activities and financial institutions. Repo transactions … are collateralized, frequently with securitized bonds. We refer to the combination of securitization plus repo finance as …

explanation for the low number of modifications to date than contract frictions related to securitization agreements between …

that banks used this form of securitization to concentrate, rather than disperse, financial risks in the banking sector …

For nearly a decade prior to the collapse of structured finance markets in late 2007, securitization by collateralized … whether securitization was associated with risky lending in the corporate loan market by examining the performance of … underperform the rest of the loan portfolio. Overall, we argue that the securitization of corporate loans is fundamentally …

This paper shows that securitization reduces the influence of bank financial condition on loan supply. Low-cost funding … the mortgage secondary market fostered by securitization has reduced the impact of local funding shocks on credit supply …. By extension, securitization has weakened the link from bank funding conditions to credit supply in aggregate, thereby …