Similar Search Results

Securitization : Lessons Learned and the Road Ahead

Segoviano Basurto, Miguel - 2014

This paper examines the financial stability implications arising from securitization markets, with one eye on the past … industry developments in the years before the crisis. Emphasis is placed on the various ways in which securitization markets … securitization markets are then discussed, including a treatment of various regulatory initiatives, the operational infrastructure of …

Persistent link: https://www.econbiz.de/10013060543

Shadow Banking

Pozsar, Zoltan - 2014

The rapid growth of the market-based financial system since the mid-1980s has changed the nature of financial intermediation. Within the system, “shadow banks” have served a critical role, especially in the run-up to the recent financial crisis. Shadow banks are financial intermediaries that...

Persistent link: https://www.econbiz.de/10013060941

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 individual asset holding data of German banks. I find that banks operating with tight regulatory constraints exploit the low risk-sensitivity of rating-contingent capital requirements...

Persistent link: https://www.econbiz.de/10011975264

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 their changes over the long term. We find that,...

Persistent link: https://www.econbiz.de/10011975518

Factors generating and transmitting the financial crisis: The role of incentives: securitization and contagion

Gabbi, Giampaolo; Kalbaska, Alesia; Vercelli, Alessandro - Financialisation, Economy, Society & Sustainable … - 2014

view of incentives that change as a consequence of securitization and contagion processes. It provides a critical analysis … of banking and the role of securitization in it. The former focuses on its impact on the traditional model of commercial … banking, whereas the latter sees the role of securitization in the emergence of a parallel banking system (shadow banking …

Persistent link: https://www.econbiz.de/10010933422

Transparency through Financial Claims with Fingerprints – A Free Market Mechanism for Preventing Mortgage Securitization Induced Financial Crises

Gründl, Helmut; Post, Thomas - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2009

Lack of transparency in securitization transactions significantly contributed to the severe financial crisis of 2007 … participants at each stage of the securitization process to obtain easily full information about the underlying original risks and … considerably enhance transparency in securitization transactions at the expense of some transaction costs, while reducing the need …

Persistent link: https://www.econbiz.de/10005207947

Verbriefungen sind tot - lang leben Verbriefungen?

Erber, Georg - In: DIW Wochenbericht 78 (2011) 35, pp. 2-11

Nachdem 2008 die Finanzmärkte weltweit einbrachen, wurde in Verbriefungen eine der Hauptursachen für den Flächenbrand gesehen. Der Verbriefungsmarkt trocknete aus, weil das Vertrauen in dieses Finanzinstrument verloren gegangen war. Damals attestierte man der Finanzinnovation Verbriefung...

Persistent link: https://www.econbiz.de/10009283555

The Aggregated Leverage Ratio and the Detection of Financial Vulnerability :Evidence from the United States and European Countries

Ondo-Ndong, Sonia; Rigot, Sandra - In: Brussels Economic Review 54 (2011) 1, pp. 5-20

The aim of this paper is to put forward a relevant indicator that could help supervisors to regulate the excessive use of leverage which gives rise to systemic risk. We suggest the aggregated leverage ratio named “Global Aggregated Leverage Ratio” (GALR), which encompasses the activity of...

Persistent link: https://www.econbiz.de/10009646113

Lending in the Shadows : Shadow Bank Financial Fragility and Mortgage Credit

Shan, Yu - 2022

This paper proposes a novel measure of financial fragility for shadow bank mortgage lenders and investigates its implications on credit supply and financial stability. The overall financial fragility of the shadow bank sector has been consistently increasing in recent years, reaching its highest...

Persistent link: https://www.econbiz.de/10014239194

Mortgage Loans In January-July 2022

Zubov, Sergey - 2023

The destabilization of the economic situation led to a decline in the volume of transactions on the mortgage market. The subsequent measures of the government and the Central Bank helped reducing market rates and partially restore activity at the market. The schemes of practically interest-free...

Persistent link: https://www.econbiz.de/10014355507