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The credit crisis that started in the American mortgage subprime market in 2007 is having profound social and economic consequences. In this context, lawmakers, regulators, and commentators have questioned the role of rating agencies in the market turmoil. In light of the critiques, a strong...
Persistent link: https://www.econbiz.de/10013156993
, this paper argues that macro-prudential regulation is necessary to address the systemic risk inherent to ratings. The paper …
Persistent link: https://www.econbiz.de/10013158711
unique circumstances used here could also be exploited to inform other risk/regulation questions. Use of a novel CoVaR …. That PCA and concurrent regulation lowered systemic risk, or 2. That CoVaR measures systemic risk …
Persistent link: https://www.econbiz.de/10013072595
sinnvolle Reform der Regulierung ableiten. Neben den Anreizproblemen, die Gegenstand einer weiteren Arbeit sind (Franke … Eigenkapitalstandards und eine notwendige Risikobegrenzung auf Derivatemärkten. -- Financial Crisis ; Information ; Regulation ; Banking …
Persistent link: https://www.econbiz.de/10003864312
risk weight decreases in the post-regulation period. Overall, our paper points to an important unintended consequence of …
Persistent link: https://www.econbiz.de/10012850380
worldwide political institutions to approve a more rigorous regulation on financial institutions and predict financial crises … EU regulation on credit rating agencies and current Basel II enhancements. Finally we can determine that most regulatory … counterproductive and a danger for worldwide economic growth. -- structured finance ; ratings ; regulation ; subprime crisis ; Basel II …
Persistent link: https://www.econbiz.de/10008695393
think about information as well as market discipline and discuss policy implications and proposals for regulation. -- Mark …-to-Market ; Fair-Value Accounting ; Credit Rating Agencies ; Financial Crisis ; Regulation ; Financial Institutions ; Banks …
Persistent link: https://www.econbiz.de/10008934782
Credit score cutoff rules result in very similar potential borrowers being treated differently by mortgage lenders. Recent research has used variation induced by these rules to investigate the connection between securitization and lender moral hazard in the recent financial crisis. However, the...
Persistent link: https://www.econbiz.de/10003941871
Mortgage originators use credit score cutoff rules to determine how carefully to screen loan applicants. Recent research has hypothesized that these cutoff rules result from a securitization rule of thumb. Under this theory, an observed jump in defaults at the cutoff would imply that...
Persistent link: https://www.econbiz.de/10009298472
has drastically but deservedly overhauled the regulation of financial markets in order to not only prevent such disasters …
Persistent link: https://www.econbiz.de/10013090228