Arbeitspapier
Determinants of banks' engagement in loan securitization
This paper provides new insights into the use of loan securitization. We analyze collateralized loan obligation (CLO) transactions by European banks from 1997 to 2004 and try to identify the influence that various firm-specific and macroeconomic factors may have on an institution's securitization decision. Our results suggest that loan securitization is an appropriate funding tool for banks with high risk and low liquidity. It may also have been used by commercial banks to indirectly access investment-bank activities and the associated gains. Regulatory capital arbitrage under Basel I does not seem to have driven the market.
- Sprache
-
Englisch
- Erschienen in
-
Series: Frankfurt School - Working Paper Series ; No. 85
- Klassifikation
-
Wirtschaft
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
- Thema
-
Securitization
credit risk transfer
collateralized loan obligations
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bannier, Christina E.
Hänsel, Dennis N.
- Ereignis
-
Veröffentlichung
- (wer)
-
Frankfurt School of Finance & Management
- (wo)
-
Frankfurt a. M.
- (wann)
-
2007
- Handle
- URN
-
urn:nbn:de:101:1-20080827350
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Bannier, Christina E.
- Hänsel, Dennis N.
- Frankfurt School of Finance & Management
Entstanden
- 2007
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