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 …

England’s liquidity management, regulatory failure of the FSA, an inadequate deposit insurance arrangement and deficient …

by looking at the specific dynamics of financial innovation through securitization of illiquid assets. Particularly, a …

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 …

We study optimal securitization in the presence of an initial moral hazard. A financial intermediary creates and then … punishment for defaults, under which investors stop paying the intermediary after the first default. With securitization … contracts optimally designed, we find securitization improves the intermediary's screening incentives. Furthermore, the …

credit risk transfer instrument and to increase performance, while European originators focus on regulatory capital arbitrage … and performance improvement. For German banks securitization seems to be an appropriate funding tool. The proposed … understanding for the motivation to originate securitization products is less discovered. Therefor this paper tries to identify main …