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Securitisation of mezzanine capital in Germany
Franke, Günter; Hein, Julia - 2007
A recent trend in the German Asset Backed Securities (ABS) market is the securitisation of subordinated loans and profit participation agreements (PPAs) granted to medium-sized enterprises (MEs). This paper provides an overview of this growing market and analyses the benefits of such...
Persistent link: https://www.econbiz.de/10003876690
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Information asymmetries and securitization design
Franke, Günter; Herrmann, Markus; Weber, Thomas - 2007
of the lowest rated tranche. -- Securitization ; collateralized debt obligations ; asset pool quality ; First Loss …
Persistent link: https://www.econbiz.de/10003876706
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Arbitraging the Basel securitization framework : evidence from German ABS investment
Efing, Matthias - 2016
This paper provides evidence for regulatory arbitrage within the class of asset-backed securities (ABS) based on … with the highest yield and the lowest collateral performance among ABS with the same regulatory risk weight. This reaching …
Persistent link: https://www.econbiz.de/10011975264
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Arbitraging the Basel securitization framework : evidence from German ABS investment
Efing, Matthias - 2015
This paper provides evidence for regulatory arbitrage within the class of assetbacked securities (ABS) based on …
Persistent link: https://www.econbiz.de/10011391709
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Arbitraging the Basel Securitization Framework : evidence from German ABS investment
Efing, Matthias - 2014
yield. Studying securitization exposures on the balance sheets of German banks, I show evidence consistent with this …
Persistent link: https://www.econbiz.de/10011293796
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The bonus-driven "rainmaker" financial firm : how these firms enrich top employees, destroy shareholder value and create system financial instability
Crotty, James R. - 2009
We recently experienced a global financial crisis so severe that only massive rescue operations by governments around the world prevented a total financial market meltdown and perhaps another global Great Depression. One necessary precondition for the crisis was the perverse, bonus-driven...
Persistent link: https://www.econbiz.de/10003989513
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Mortgage-backed securities
Fuster, Andreas; Lucca, David O.; Vickery, James - 2022
economic effects of mortgage securitization. We also assemble descriptive statistics about market size, growth, security … the MBS market and mortgage securitization. …
Persistent link: https://www.econbiz.de/10013161874
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Mortgage-backed securities
Fuster, Andreas; Lucca, David O.; Vickery, James - 2022
economic effects of mortgage securitization. We also assemble descriptive statistics about market size, growth, security … the MBS market and mortgage securitization …
Persistent link: https://www.econbiz.de/10013168786
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Do reputable issuers provide better-quality securitizations?
Deku, Solomon Y.; Kara, Alper; Marqués Ibáñez, David - 2019
We examine the link between issuer reputation and mortgage-backed security (MBS) performance using a sample of 4 …,247 European MBS issued between 1999 and 2007. We measure performance with credit rating downgrades and delinquencies and track …
Persistent link: https://www.econbiz.de/10011975518
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Securitization and moral hazard : evidence from a lender cutoff rule
Bubb, Ryan; Kaufman, Alex - 2009
. Recent research has used variation induced by these rules to investigate the connection between securitization and lender … moral hazard problem posed by securitization. …
Persistent link: https://www.econbiz.de/10003941871