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Securitization and lending standards : evidence from the wholesale loan market
Kara, Alper; Marqués Ibáñez, David; Ongena, Steven - 2011
We investigate the effect of securitization activity on banks’ lending standards using evidence from pricing behavior … aggressive on their loan pricing practices. This suggests that securitization activity lead to laxer credit standards …. Macroeconomic factors also play a large role explaining the impact of securitization activity on bank lending standards: banks more …
Persistent link: https://www.econbiz.de/10009233425
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Securitization and lending standards : evidence from the wholesale loan market
Kara, Alper; Marqués Ibáñez, David; Ongena, Steven - 2011
We investigate the effect of securitization activity on banks’ lending standards using evidence from pricing behavior … aggressive on their loan pricing practices. This suggests that securitization activity lead to laxer credit standards …. Macroeconomic factors also play a large role explaining the impact of securitization activity on bank lending standards: banks more …
Persistent link: https://www.econbiz.de/10009238013
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The Impact of Securitization on the Extension of Subprime Credit
Nadauld, Taylor - 2011
This paper investigates the relationship between securitization activity and the extension of subprime credit. The … the years 2003-2005. Second, the securitization of subprime loans increased substantially over the same time period … securitization activity of investment banks was driven by forces exogenous to factors impacting lending decisions in the primary …
Persistent link: https://www.econbiz.de/10013118898
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Securitization and Lending Standards : Evidence from the Wholesale Loan Market
Kara, Alper - 2011
We investigate the effect of securitization activity on banks' lending standards using evidence from pricing behavior … aggressive on their loan pricing practices. This suggests that securitization activity lead to laxer credit standards …. Macroeconomic factors also play a large role explaining the impact of securitization activity on bank lending standards: banks more …
Persistent link: https://www.econbiz.de/10013122259
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Securitization and Lending Standards : Evidence from the Wholesale Loan Market
Kara, Alper - 2011
We investigate the effect of securitization activity on banks' lending standards using evidence from pricing behavior … aggressive on their loan pricing practices. This suggests that securitization activity lead to laxer credit standards …. Macroeconomic factors also play a large role explaining the impact of securitization activity on bank lending standards: banks more …
Persistent link: https://www.econbiz.de/10013122538
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Securitization and Credit Quality
Kara, Alper - 2017
securitization activity on loans' relative credit quality employing a uniquely detailed dataset from the euro-denominated syndicated … securitization, however, the credit quality of borrowers whose loans are securitized deteriorates by more than those in the control … detailed loan-by-loan information on loan credit quality would be useful to reap out the benefits of securitization …
Persistent link: https://www.econbiz.de/10012963923
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The Rise and Fall of Bank Credit Securitisation : Capital Relief, Augmented Lending and Spillover Effects
Neumann, Niklas - 2017
Securitisation allows banks to swap risky assets for cash and thereby boost regulatory capital measures and attain a higher balance sheet turnover. As a result, access to securitisation lowers banks' dependence on capital in lending and increases credit supply. In my empirical strategy I compare...
Persistent link: https://www.econbiz.de/10012952237
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Dis-Integrating Credit Markets - Diversification, Securitization, and Lending in a Recovery
Chavaz, Matthieu - 2016
Using exogenous variation in exposure to hurricanes, this article explores how differently diversified US banks lend during the protracted recovery from a major downturn. Compared to diversified banks, local banks:(i) originate a higher share of new mortgage and small business loans in affected...
Persistent link: https://www.econbiz.de/10012984973
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The Marketability of Bank Assets and Managerial Rents : Implications for Financial Stability
Fecht, Falko - 2016
Ongoing financial innovation and greater information availability increase the tradability of bank assets and reduce banks' dependence on individual bank managers as private information in the lending process declines. In this paper we argue that this has two effects on banks, with opposing...
Persistent link: https://www.econbiz.de/10012989289
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Toxic asset subsidies and the early redemption of talf loans
Wilson, Linus - In: International Journal of Financial Studies : open … 10 (2022) 2, pp. 1-20
This paper develops a formula to numerically estimate the unsubsidized, fair-market value of the toxic assets purchased with Federal Reserve loans. It finds that subsidy rates on these loans were on average 33.9 percent at origination. In contrast, by the 3rd quarter of the 2010, there was on...
Persistent link: https://www.econbiz.de/10013252762