Xiao, Shuhua; Zhu, Shushang; Wu, Ying - 2022
We present a theoretical framework for studying how the cross holdings of credit asset securitization (CAS) products … profit and credit creation; these motives drive up banks' leverage. We also show that the capital adequacy ratio (CAR … asset structure, cross-holding degree among banks, and CAS characteristics including its state of risk retention. We …