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Asymmetric Information and the Securitization of SME Loans
Albertazzi, Ugo - 2017
Using credit register data for loans to Italian firms we test for the presence of asymmetric information in the securitization market by looking at the correlation between the securitization (risk-transfer) and the default (accident) probability. We can disentangle the adverse selection from the...
Persistent link: https://www.econbiz.de/10012960922
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Asymmetric information and the securitization of SME loans
Albertazzi, Ugo; Bottero, Margherita; Gambacorta, Leonardo - 2021
Using all loans granted to firms recorded in the Italian credit register, we estimate correlations between risk-transfer and default probabilities to gauge the severity of informational asymmetries in the loan securitization market. First, the analysis confirms the presence of information...
Persistent link: https://www.econbiz.de/10012487672
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The Cost of Steering in Financial Markets : Evidence from the Mortgage Market
Gambacorta, Leonardo - 2020
We build a model of the mortgage market where banks attain their optimal mortgage portfolio by setting rates and … "steering" customers. "Sophisticated" households know which mortgage type is best for them, while "naïve" ones are susceptible …
Persistent link: https://www.econbiz.de/10012845706
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Asymmetric Information and AHE Securitization of SME Loans
Albertazzi, Ugo - 2017
Using credit register data for loans to Italian firms we test for the presence of asymmetric information in the securitization market by looking at the correlation between the securitization (risk-transfer) and the default (accident) probability. We can disentangle the adverse selection from the...
Persistent link: https://www.econbiz.de/10012966394
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The Cost of Steering in Financial Markets : Evidence from the Mortgage Market
Guiso, Luigi; Pozzi, Andrea; Tsoy, Anton; Gambacorta, … - 2020
We build a model of the mortgage market where banks attain their optimal mortgage portfolio by setting rates and … steering customers. Sophisticated households know which mortgage type is best for them; naive households are susceptible to … implications of steering. The average cost of the distortion is equivalent to 16% of the annual mortgage payment. A financial …
Persistent link: https://www.econbiz.de/10014352392
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Central Clearing : Trends and Current Issues
Domanski, Dietrich - 2015
Central clearing of standardised financial instruments, as promoted by the G20 Leaders, addresses some of the financial stability risks that materialised during the Great Financial Crisis. Its rapid evolution since 2009 may have changed the linkages between central counterparties and the rest of...
Persistent link: https://www.econbiz.de/10013010666
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Gender diversity in bank boardrooms and green lending: Evidence from euro area credit register data
Gambacorta, Leonardo; Pancotto, Livia; Reghezza, Alessio; … - 2022
Do female directors on banks' boards influence lending decisions toward less polluting firms? By using granular credit register data matched with information on firm-level greenhouse gas (GHG) emission intensities, we isolate credit supply shifts and find that banks with more gender-diverse...
Persistent link: https://www.econbiz.de/10014278315
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Rescue Packages and Bank Lending
von Peter, Goetz - 2013
This paper examines whether the rescue measures adopted during the global financial crisis helped to sustain the supply of bank lending. The analysis proposes a setup that allows testing for structural shifts in the bank lending equation, and employs a novel dataset covering large international...
Persistent link: https://www.econbiz.de/10013081438
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Rescue Packages and Bank Lending
Brei, Michael - 2014
This paper examines whether the rescue measures adopted during the global financial crisis helped to sustain the supply of bank lending. The analysis proposes a setup that allows testing for structural shifts in the bank lending equation, and employs a novel dataset covering large international...
Persistent link: https://www.econbiz.de/10013067136
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Bad Bank Resolutions and Bank Lending
Brei, Michael - 2020
The paper investigates whether impaired asset segregation tools, otherwise known as bad banks, and recapitalisation lead to a recovery in the originating banks' lending and a reduction in non-performing loans (NPLs). Results are based on a novel data set covering 135 banks from 15 European...
Persistent link: https://www.econbiz.de/10012841855