for housing, low interest rates, innovations in mortgage lending and securitization, and a breakdown in credit quality …

role of securitization in the subprime market turmoil, describing how securitization atomized the lending process and …, as well as the difficulty of crafting an adequate response to that meltdown, to the effects of securitization …. Securitization led to weakened and inconsistent underwriting standards and allowed many borrowers to obtain loans that, after a reset …

We provide new evidence about the effect of securitization on bank stability and systemic risk in the run-up to and … use a structural model of bank stability to construct a new measure of the net effect of securitization on bank stability …. Analyzing the dynamics of this measure at the individual bank and the banking system levels shows that securitization activities …

Before the financial crisis securitization was commonly considered an efficient way of replacing illiquid assets with … the USA. The analysis indicates that, driven by the ECB repo operations, the securitization market has almost lost the pre …-crisis motives behind the issuance of ABS. Banks’ attitudes toward securitization as a refinancing tool and a mechanism to extract …

sheets to non-banks via increased securitization activity. As such, higher interest rates have the potential for unintended … sectors. In the past, this increased securitization activity was driven primarily byb private-label securitization. On the … cutting back on their securitization activity but expanding loans to the Federal Home Loan Bank system …