Asset Securitization And Optimal Retention

Author : John Kiff,Michael Kisser
Publisher : International Monetary Fund
Page : 41 pages
File Size : 54,7 Mb
Release : 2010-03-01
Category : Business & Economics
ISBN : 9781451982015

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Asset Securitization and Optimal Retention by John Kiff,Michael Kisser Pdf

This paper builds on recent research by Fender and Mitchell (2009) who show that if financial institutions securitize loans, retaining an interest in the equity tranche does not always induce the securitizer to diligently screen borrowers ex ante. We first determine the conditions under which this scenario becomes binding and further illustrate the implications for capital requirements. We then propose an extension to the existing model and also solve for optimal retention size. This also allows us to capture feedback effects from capital requirements into the maximization problem. Preliminary results show that equity tranche retention continues to best incentivize loan screening.

Author : Mr.John Kiff,Michael Kisser
Publisher : International Monetary Fund
Page : 40 pages
File Size : 53,5 Mb
Release : 2010-03-01
Category : Business & Economics
ISBN : 9781451982176

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Asset Securitization and Optimal Retention by Mr.John Kiff,Michael Kisser Pdf

This paper builds on recent research by Fender and Mitchell (2009) who show that if financial institutions securitize loans, retaining an interest in the equity tranche does not always induce the securitizer to diligently screen borrowers ex ante. We first determine the conditions under which this scenario becomes binding and further illustrate the implications for capital requirements. We then propose an extension to the existing model and also solve for optimal retention size. This also allows us to capture feedback effects from capital requirements into the maximization problem. Preliminary results show that equity tranche retention continues to best incentivize loan screening.

Author : Anonim
Publisher : Lulu.com
Page : 294 pages
File Size : 53,8 Mb
Release : 2004
Category : Bank capital
ISBN : 9789291316694

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International Convergence of Capital Measurement and Capital Standards by Anonim Pdf

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 37 pages
File Size : 44,5 Mb
Release : 2011-12-23
Category : Business & Economics
ISBN : 9781463928544

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Germany by International Monetary Fund Pdf

As part of the 2011 Financial Sector Assessment Program (FSAP) update for Germany, this Technical Note reviews recent developments of mortgage-covered bond (Pfandbrief) and mortgage securitization markets in Germany, and explores future prospects for each against the background of ongoing regulatory changes. It examines the characteristics of the two markets and their performance through the crisis, and analyzes some of the policy reactions that are currently tending to favor covered bonds over securitization. Some of the systemic vulnerabilities associated with covered bonds are also discussed.

Author : Stanford Law Review
Publisher : Quid Pro Books
Page : 464 pages
File Size : 51,7 Mb
Release : 2012-04-25
Category : Law
ISBN : 9781610279468

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Stanford Law Review: Volume 64, Issue 3 - March 2012 by Stanford Law Review Pdf

A leading law journal features a digital edition as part of its worldwide distribution, using quality ebook formatting and active links. The March 2012 issue of the Stanford Law Review contains studies of law, economics, and social policy by recognized scholars on diverse topics of interest to the academic and professional community. Contents for the March 2012 issue include: Prosecuting the Exonerated: Actual Innocence and the Double Jeopardy Clause; By Jordan M. Barry From Multiculturalism to Technique: Feminism, Culture, and the Conflict of Laws Style; By Karen Knop, Ralf Michaels & Annelise Riles Fragmentation Nodes: A Study in Financial Innovation, Complexity, and Systemic Risk; By Kathryn Judge Note: Insurmountable Obstacles: Structural Errors, Procedural Default, and Ineffective Assistance; By Amy Knight Burns Comment: The Gulf Coast Claims Facility and the Deepwater Horizon Litigation: Judicial Regulation of Private Compensation Schemes; By Colin McDonell In the ebook edition, all the footnotes, graphs, and tables of contents (including those for individual articles) are fully linked, properly scalable, and functional; the original note numbering is retained. Also, the URLs in notes are active; and the issue is properly formatted.

Author : United States. Securities and Exchange Commission
Publisher : Unknown
Page : 974 pages
File Size : 42,7 Mb
Release : 1967
Category : Mutual funds
ISBN : STANFORD:36105060317588

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Investment Company Act Release by United States. Securities and Exchange Commission Pdf

Author : Jennifer Romero-Torres,Sameer Bhatia,Sudip Sural
Publisher : Asian Development Bank
Page : 130 pages
File Size : 51,8 Mb
Release : 2017-11-01
Category : Business & Economics
ISBN : 9789292579845

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Securitization in India by Jennifer Romero-Torres,Sameer Bhatia,Sudip Sural Pdf

India needs to spend close to Rs43 trillion (about $646 billion) on infrastructure through to 2022. Such a staggering requirement cannot be met though traditional sources such as public sector bank loans. India must immediately explore and quickly ramp up financing from alternative investment sources. This report provides an overview of infrastructure financing in India, sheds light on the challenges faced by the country's banking sector, suggests an optimal mechanism for securitizing the infrastructure assets of public sector banks, and outlines a range of scenarios and factors that must be in place for this mechanism to be successfully realized.

Author : Edward J. Balleisen,Lori S. Bennear,Kimberly D. Krawiec,Jonathan B. Wiener
Publisher : Cambridge University Press
Page : 593 pages
File Size : 47,6 Mb
Release : 2017-11-02
Category : Business & Economics
ISBN : 9781107140219

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Policy Shock by Edward J. Balleisen,Lori S. Bennear,Kimberly D. Krawiec,Jonathan B. Wiener Pdf

In this book, compelling case studies show how past crises have reshaped regulation, and how policy-makers can learn from crises in the future.

Author : Marida Bertocchi,Sandra L. Schwartz,William T. Ziemba
Publisher : John Wiley & Sons
Page : 432 pages
File Size : 55,5 Mb
Release : 2010-02-08
Category : Business & Economics
ISBN : 9780470377345

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Optimizing the Aging, Retirement, and Pensions Dilemma by Marida Bertocchi,Sandra L. Schwartz,William T. Ziemba Pdf

A straightforward guide focused on life cycle investing-namely aging, retirement, and pensions Life cycle investing and the implications of aging, retirement, and pensions continues to grow in importance. With people living longer, the relative and absolute number of retirees is growing while the number of workers contributing to pension funds is declining. This reliable resource develops a detailed economic analysis-at the micro (individual) and macro (economy wide) levels-which addresses issues regarding the economics of an aging population. Topics touched upon include retirement and the associated health care funding of the aged as well as social security and the asset classes that are considered asset-liability choices over time. The probability of achieving adequate return patterns from various investment strategies and asset classes is reviewed Shares rich insights on the aging, retirement, and pensions dilemma An assessment of the resources the real economy will be able to commit to non-workers is provided The three pillars of retirement are social security, company pensions, and private savings. Each of these pillars is confronted with a variety of asset-liability problems, and this book will addresses them.

Author : Allen N. Berger,Philip Molyneux,John O. S. Wilson
Publisher : Oxford University Press
Page : 1328 pages
File Size : 48,7 Mb
Release : 2019-10-31
Category : Business & Economics
ISBN : 9780192558084

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The Oxford Handbook of Banking by Allen N. Berger,Philip Molyneux,John O. S. Wilson Pdf

The Oxford Handbook of Banking, Third Edition provides an overview and analysis of developments and research in this rapidly evolving field. Aimed at graduate students of economics, banking, and finance; academics; practitioners; regulators; and policy makers, it strikes a balance between abstract theory, empirical analysis, and practitioner and policy-related material. Split into five distinct parts The Oxford Handbook of Banking is a one-stop source of relevant research in banking. It examines the theory of banking, bank operations and performance, regulatory and policy perspectives, macroeconomic perspectives in banking, and international differences in banking structures and environments. Taking a global perspective it examines banking systems in the United States, China, Japan, Australia and New Zealand, Africa, the European Union, transition countries of Europe, and Latin America. Thematic issues covered include financial innovation and technological change; consumer and mortgage lending; Islamic banking; and how banks influence real economic activity. Fully revised and now including brand new chapters on a range of geographical regions, bank bailouts and bail-ins, and behavioral economics amongst many other topics, this third edition of The Oxford Handbook of Banking provides readers with insights to seminal and contemporary research in banking and an opportunity to learn about the diversity of financial systems around the world.

Author : Mr.Stijn Claessens,Ms.Laura E. Kodres
Publisher : International Monetary Fund
Page : 39 pages
File Size : 49,5 Mb
Release : 2014-03-14
Category : Business & Economics
ISBN : 9781484335970

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The Regulatory Responses to the Global Financial Crisis by Mr.Stijn Claessens,Ms.Laura E. Kodres Pdf

We identify current challenges for creating stable, yet efficient financial systems using lessons from recent and past crises. Reforms need to start from three tenets: adopting a system-wide perspective explicitly aimed at addressing market failures; understanding and incorporating into regulations agents’ incentives so as to align them better with societies’ goals; and acknowledging that risks of crises will always remain, in part due to (unknown) unknowns – be they tipping points, fault lines, or spillovers. Corresponding to these three tenets, specific areas for further reforms are identified. Policy makers need to resist, however, fine-tuning regulations: a “do not harm” approach is often preferable. And as risks will remain, crisis management needs to be made an integral part of system design, not relegated to improvisation after the fact.

Author : Anonim
Publisher : Unknown
Page : 522 pages
File Size : 54,8 Mb
Release : 2009
Category : Capital market
ISBN : STANFORD:36105134091854

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Global Financial Stability Report by Anonim Pdf

Author : Stefano Caselli,Stefano Gatti
Publisher : Springer
Page : 215 pages
File Size : 47,5 Mb
Release : 2017-10-09
Category : Business & Economics
ISBN : 9783319541242

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Structured Finance by Stefano Caselli,Stefano Gatti Pdf

This book, now in its second edition, provides an in-depth overview of all segments of the structured finance business, with particular reference to market trends, deal characteristics and deal structuring. The goal is to assist readers in gaining a clear understanding of the common features of structured finance transactions. The process of deal structuring for each type of transaction is carefully analyzed, with extensively updated chapters on asset securitization, project finance, structured leasing transactions and leveraged acquisitions. In the new edition, particular attention is paid to novel areas of intervention, such as public–private partnerships and non-performing loans in the resolution of bank restructuring. Although the subject of much criticism, structured finance, when used properly, offers an effective solution to the credit crunch that many European countries are suffering and is also a way to revive a single capital market for debt instruments. Readers will find this book to be an illuminating guide to the business and to the best market practices in organizing transactions. It will be of value for BSc and MSc finance students, professionals and consultants alike.

Author : Luc Nijs
Publisher : Springer Nature
Page : 822 pages
File Size : 52,6 Mb
Release : 2020-06-30
Category : Business & Economics
ISBN : 9783030347437

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The Handbook of Global Shadow Banking, Volume I by Luc Nijs Pdf

This global handbook provides an up-to-date and comprehensive overview of shadow banking, or market-based finance as it has been recently coined. Engaging in financial intermediary services outside of normal regulatory parameters, the shadow banking sector was arguably a critical factor in causing the 2007-2009 financial crisis. This volume focuses specifically on shadow banking activities, risk, policy and regulatory issues. It evaluates the nexus between policy design and regulatory output around the world, paying attention to the concept of risk in all its dimensions—the legal, financial, market, economic and monetary perspectives. Particular attention is given to spillover risk, contagion risk and systemic risk and their positioning and relevance in shadow banking activities. Newly introduced and incoming policies are evaluated in detail, as well as how risk is managed, observed and assessed, and how new regulation can potentially create new sources of risk. Volume I concludes with analysis of what will and still needs to happen in the event of another crisis. Proposing innovative suggestions for improvement, including a novel Pigovian tax to tame financial and systemic risks, this handbook is a must-read for professionals and policy-makers within the banking sector, as well as those researching economics and finance.

Author : Allen N. Berger,Philip Molyneux,John O. S. Wilson
Publisher : OUP Oxford
Page : 1040 pages
File Size : 49,9 Mb
Release : 2014-11-27
Category : Business & Economics
ISBN : 9780191002199

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The Oxford Handbook of Banking, Second Edition by Allen N. Berger,Philip Molyneux,John O. S. Wilson Pdf

The Oxford Handbook of Banking, Second Edition provides an overview and analysis of developments and research in banking written by leading researchers in the field. This handbook will appeal to graduate students of economics, banking and finance, academics, practitioners, regulators, and policy makers. Consequently, the book strikes a balance between abstract theory, empirical analysis, and practitioner, and policy-related material. The Handbook is split into five parts. Part I, The Theory of Banking, examines the role of banks in the wider financial system, why banks exist, how they function, and their corporate governance and risk management practices. Part II deals with Bank Operations and Performance. A range of issues are covered including bank performance, financial innovation, and technological change. Aspects relating to small business, consumer, and mortgage lending are analysed together with securitization, shadow banking, and payment systems. Part III entitled Regulatory and Policy Perspectives discusses central banking, monetary policy transmission, market discipline, and prudential regulation and supervision. Part IV of the book covers various Macroeconomic Perspectives in Banking. This part includes a discussion of systemic risk and banking and sovereign crises, the role of the state in finance and development as well as how banks influence real economic activity. The final Part V examines International Differences in Banking Structures and Environments. This part of the Handbook examines banking systems in the United States, European Union, Japan, Africa, Transition countries, and the developing nations of Asia and Latin America.