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Determinants of structured finance issuance : a cross-country comparison
Schuetz, Sebastian A. - 2011 - This version: February 2011
understanding for the motivation to originate securitization products is less discovered. Therefor this paper tries to identify main … to securitize that are in line with observable behavior of market participants. US banks use securitization mainly as … and performance improvement. For German banks securitization seems to be an appropriate funding tool. The proposed …
Persistent link: https://www.econbiz.de/10008907723
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How smart are investors after the subprime mortgage crisis? : evidence from the securitization market
Gürtler, Marc; Hibbeln, Martin - 2012
securitization or if they choose vertical slice retention instead of retaining the equity tranche. Moreover, the relevance of credit …
Persistent link: https://www.econbiz.de/10009569587
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Arbitraging the Basel securitization framework : evidence from German ABS investment
Efing, Matthias - 2015
This paper provides evidence for regulatory arbitrage within the class of assetbacked securities (ABS) based on individual asset holding data of German banks. I find that those banks operating with tight regulatory constraints pick the securities with the highest yield and lowest collateral...
Persistent link: https://www.econbiz.de/10011391709
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Arbitraging the Basel Securitization Framework : evidence from German ABS investment
Efing, Matthias - 2014
yield. Studying securitization exposures on the balance sheets of German banks, I show evidence consistent with this …
Persistent link: https://www.econbiz.de/10011293796
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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
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The Term Asset-Backed Securities Loan Facility
Caviness, Elizabeth; Sarkar, Asani; Goyal, Ankur; Park, … - 2021
The COVID-19 pandemic disrupted the asset-backed securities (ABS) market, resulting in higher spreads on ABS and briefly halting the issuance of some ABS. On March 23, 2020, the Federal Reserve established the Term Asset-Backed Securities Loan Facility (TALF) to support the flow of credit to...
Persistent link: https://www.econbiz.de/10012625897
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Main flaws of the collateralized debt obligation's valuation before and during the 2008/2009 global turmoil
Benešová, Petra; Teplý, Petr - 2010
As a result of the 2008 financial crisis, the world credit markets stalled significantly and raised the doubts of … CDOs. -- collateralized debt obligations ; Gaussian Copula ; valuation ; securitization …
Persistent link: https://www.econbiz.de/10003958595
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Shadow banking regulation
Adrian, Tobias; Ashcraft, Adam B. - 2012
repurchase agreements, money market mutual funds, and securitization. Despite significant efforts by lawmakers, regulators, and …
Persistent link: https://www.econbiz.de/10009528777
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The rise and fall of demand for securitizations
Chernenko, Sergey; Hanson, Samuel G.; Sunderam, Adi - 2014
Collateralized debt obligations (CDOs) and private-label mortgage-backed securities (MBS) backed by nonprime loans played a central role in the recent financial crisis. Little is known, however, about the underlying forces that drove investor demand for these securitizations. Using micro-data on...
Persistent link: https://www.econbiz.de/10010532196
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The capital structure and governance of a mortgage securitization utility
Mosser, Patricia C.; Tracy, Joseph S.; Wright, Joshua D. - 2013
We explore the capital structure and governance of a mortgage-insuring securitization utility operating with government … mutualization could address incentive misalignments arising out of securitization and government insurance, as well as how the …
Persistent link: https://www.econbiz.de/10010202677