Extent: | Online-Ressource (72 S.) graph. Darst. |
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Series: | IMF working papers. - Washington, DC : IMF, ZDB-ID 2108494-4. - Vol. 13/255 |
Type of publication: | Book / Working Paper |
Type of publication (narrower categories): | Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature |
Language: | English |
Notes: | Description based upon print version of record Systemvoraussetzungen: Acrobat Reader Cover; Contents; Executive Summary; Glossary; I. Introduction; Figures; 1. Annual Securitization Issuance in Europe; II. Revisiting the Role of Securitization in the Crisis; A. Key Developments in Securitization Markets-The 2000s in Historical Perspective; 2. Key Developments in Global Securitization Markets; 3. Global Private-Label Securitization Issuance by Type; 4. U.S. Subprime Mortgage Issuance; 5. U.S. Private-Label MBS Issuance; Boxes; 1. Securitization-An Overview; B. Misaligned Incentives and the Self-Reinforcing Cycle of 2000-07: Systemic Risk and the Role of Securitization 6. Self-Reinforcing Credit Intermediation CycleThe role of loan origination; The role of securitization; The role of credit rating agencies; The role of investors; Tables; 1. Basel II Standardized Ratings-Based Risk Weights; 7. Issuance of Investment Grade Corporate Debt: The United States and Europe; III. Impediments to Securitization Markets-After the Crisis; A. Regulation; 2. Overview of the BCBS Proposals on Capital Charges; Perverse Incentives; 2. Illustrative Calculation of Bank Capital Requirements under Basel II and the New BCBS Proposals (U.S. High-Quality Mortgage Deal) 8. Proportional Increase in Risk-Weights When Moving Down One Letter RatingAsymmetric capital charges; 3. Illustrative Calculation of Bank Capital Requirements under Basel II and New BCBS Proposals (Hypothetical Consumer Deal); Regulatory complexity and uncertainty; B. The Operational Infrastructure of the Securitization Markets; Operational infrastructure; Credit rating agencies; Bond insurance; C. Official Sector Intervention in the ABS Markets; Asset purchase programs and quantitative easing; Discount window facilities and haircuts; IV. Policy Recommendations A. Mitigating the Risk of Another Adverse Self-Reinforcing CycleLoan origination practices; Securitization origination; Credit rating agencies; Investors; B. Addressing Impediments to a Healthy Securitization Market; New regulatory initiatives; Operational infrastructure; Official sector intervention; 3. Securitization and Complimentary Policy Measures to Ease Credit Conditions for SMEs in Europe; 4. Summary of Recommendations; Appendices; I. Securitization: The First 30 Years; 9. The Mechanics of Securitization; II. The Basics of Securitization-An Overview III. Main Features of the U.S. and Continental European Mortgage Securitization MarketsIV. Covered Bonds and Securitizations-How Do They Differ From Each Other?; V. New U.S. Mortgage Regulations: Qualified Mortgages and the Ability-to-Repay; VI. Regulatory Reform of Credit Rating Agencies; References |
ISBN: | 978-1-4755-4194-6 |
Other identifiers: | 10.5089/9781475541946.001 [DOI] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10010233164