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Playing the shadowy world of emerging market shadow banking

Michael, Bryane - 2014

For emerging market regulators, shadow banking represents an activity which they must control. For businessmen in economies like Russia, Argentina, Saudi Arabia and Mexico, shadow banking represents an important business opportunity. By extending credit to risky (but promising) activities...

Persistent link: https://www.econbiz.de/10010514169

Credit securitization and credit derivatives : financial instruments and the credit risk management of middle market commercial loan portfolios

Henke, Sabine; Burghof, Hans-Peter; Rudolph, Bernd - 1998

through diversification. In recent years, the development of markets for credit securitization and credit derivatives has … are quite severe. A potential successful application of credit securitization and credit derivatives for managing credit …

Persistent link: https://www.econbiz.de/10009768847

The effect of large investors on asset quality : evidence from subprime mortgage securities

Adelino, Manuel; Frame, W. Scott; Gerardi, Kristopher - 2014

This paper examines how the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, the largest investors in subprime private-label mortgage-backed securities (PLS), influenced the risk characteristics and prices of the deals in which they participated. To identify the causal effect...

Persistent link: https://www.econbiz.de/10010337605

Are lemons sold first? : dynamic signaling in the mortgage market

Adelino, Manuel; Gerardi, Kristopher; Hartman-Glaser, Barney - 2016

A central result in the theory of adverse selection in asset markets is that informed sellers can signal quality by delaying trade. This paper uses the residential mortgage market as a laboratory to test this mechanism. Using detailed, loan-level data on privately securitized mortgages, we find...

Persistent link: https://www.econbiz.de/10011536500

Mortgage-backed securities

Fuster, Andreas; Lucca, David O.; Vickery, James - 2022

economic effects of mortgage securitization. We also assemble descriptive statistics about market size, growth, security … the MBS market and mortgage securitization. …

Persistent link: https://www.econbiz.de/10013161874

Mortgage-backed securities

Fuster, Andreas; Lucca, David O.; Vickery, James - 2022

economic effects of mortgage securitization. We also assemble descriptive statistics about market size, growth, security … the MBS market and mortgage securitization …

Persistent link: https://www.econbiz.de/10013168786

The bank liquidity channel of financial (in)stability

Bosshardt, Joshua; Kakhbod, Ali; Saidi, Farzad - 2021

We examine the system-wide effects of liquidity regulation on banks’ balance sheets. In the general equilibrium model, banks have to hold liquid assets, and choose among illiquid assets varying in the extent to which they are difficult to value before maturity, e.g., structured securities. By...

Persistent link: https://www.econbiz.de/10012614764

Asymmetric information and the securitization of SME loans

Albertazzi, Ugo; Bottero, Margherita; Gambacorta, Leonardo - 2021

-transfer and default probabilities to gauge the severity of informational asymmetries in the loan securitization market. First, the …

Persistent link: https://www.econbiz.de/10012487672

The systemic risk of corporate credit securitization revisited

Lojak, Benjamin; Theobald, Thomas - 2020

a securitization process. Against the background of increased corporate indebtedness, our interest is in quantifying … the U.S., where corporate credit securitization has been reintensified in recent years. Simulations deliver adverse medium …%. Securitization activities above this threshold lead to significant welfare losses from the medium-term onwards. Two transmission …

Persistent link: https://www.econbiz.de/10012224673

To securitize or to price credit risk?

McGowan, Danny; Nguyen, Huyen - 2020

loan guarantees, lenders transfer credit risk using securitization and do not price credit risk into mortgage contracts. In …

Persistent link: https://www.econbiz.de/10012291775