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Securitisation: Financial Stability after Financial Crisis?: The impact of securitisation deals in provoking and fomenting the recent financial crisis - Couverture souple

Filomeni, Stefano

 
9783844394559: Securitisation: Financial Stability after Financial Crisis?: The impact of securitisation deals in provoking and fomenting the recent financial crisis
Couverture souple
ISBN 10 : 3844394559 ISBN 13 : 9783844394559
Editeur : LAP LAMBERT Academic Publishing, 2011

Synopsis

The password of a new concept of finance that has been dominating since the ‘90s is widely known as securitisation: a technique through which loans are packaged together and then transferred to autonomous special purpose vehicles (SPV) which, in turn, issue asset-backed securities (ABS). These securities, submitted to the rating agencies' evaluation, give rise to a variety of classes of risk and can be issued to a wide audience composed of international investors. In this book, it has been analyzed that securitisation deals, theoretically conceived as instruments of risk management, were used in an aggressive way in order to maximize short-term profit, but with weak valuation of medium and long-term effects. Moreover, it has been demonstrated that securitisation deals had a relevant impact both in provoking and fomenting the recent financial crisis. Due to the increased risk appetite by financial institutions in the years preceding the crisis, securitisation operations contributed to disseminate a situation of uncertainty with a generalized mistrust in the financial markets and in the solvency of financial intermediaries, causing the crisis to reach the global level.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Présentation de l'éditeur

The password of a new concept of finance that has been dominating since the ‘90s is widely known as securitisation: a technique through which loans are packaged together and then transferred to autonomous special purpose vehicles (SPV) which, in turn, issue asset-backed securities (ABS). These securities, submitted to the rating agencies' evaluation, give rise to a variety of classes of risk and can be issued to a wide audience composed of international investors. In this book, it has been analyzed that securitisation deals, theoretically conceived as instruments of risk management, were used in an aggressive way in order to maximize short-term profit, but with weak valuation of medium and long-term effects. Moreover, it has been demonstrated that securitisation deals had a relevant impact both in provoking and fomenting the recent financial crisis. Due to the increased risk appetite by financial institutions in the years preceding the crisis, securitisation operations contributed to disseminate a situation of uncertainty with a generalized mistrust in the financial markets and in the solvency of financial intermediaries, causing the crisis to reach the global level.

Biographie de l'auteur

After being awarded the Master of Science in International Management at Bocconi University, I am currently attending a PhD Programme in Economic Sciences at the Polytechnic University of Marche, while working as a Relationship Manager Assistant for Intesa Sanpaolo Bank in the Large Corporate and Investment Banking Division - Headquarter of Milan.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
LAP LAMBERT Academic Publishing
Date d'édition
2011
Langue
anglais
ISBN 10 
3844394559
ISBN 13 
9783844394559
Reliure
Broché
Nombre de pages
108
Coordonnées du fabricant
non disponible
Personne responsable
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