In the current European macroeconomic context Asset Backed Securities (ABS) represent an appropriate instrument to revitalize bank lending and to help overcoming the manifestations of credit crunch notably for SMEs. As evidence of this, the purchase of properly designed ABS has been recently...

Shadow banking, that played a major role in the financial crisis, has a relevant share in the financing of the American economy. It is characterized by an high level of liquidity and stability risks, also due to the lack of a comprehensive and appropriate monitoring and regulatory framework...