Leverhulme讲座:证券化的未来

S. Schwarcz
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引用次数: 0

摘要

次级抵押贷款的证券化被广泛认为是金融危机的根源。本讲座将平衡证券化的成本和收益,重点关注哪里出了问题,以及需要解决哪些问题,以减少证券化的滥用,并使其再次成为一种重要的融资工具。最后,讲座探讨了证券化的替代方案,重点是担保债券,并比较和对比担保债券和证券化。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Leverhulme Lecture: The Future of Securitization
The securitization of subprime mortgage loans is widely viewed as a root cause of the financial crisis. This lecture balances the costs and benefits of securitization, focusing on what went wrong and on what needs to be fixed to curtail securitization's abuses and make it viable again as an important financing tool. Finally, the lecture examines alternatives to securitization, focusing on covered bonds and comparing and contrasting covered bonds and securitization.
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