| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12619 |
| DP12619 Skin-in-the-Game in ABS Transactions: A Critical Review of Policy Options | |
| Jan Pieter Krahnen; Christian Wilde | |
| 发表日期 | 2018-01-18 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | In response to the financial crisis, as a way to align incentives of originators and investors, new regulation in the US (Dodd-Frank) and the EU (CRR) requires issuers of asset backed securities to hold some skin-in-the-game, offering a set of options for risk retention. We propose an intuitive metric exposing effective risk retention and demonstrate that it varies widely across the available retention options. Requiring open disclosure of the metric, rather than demanding choice among arbitrarily specified and dissimilar retention options, would allow markets to price retention properly, and issuers to choose their desired retention level freely. |
| 主题 | Financial Economics |
| 关键词 | Structured finance Abs Securitization Dodd-frank act Impact assessment |
| URL | https://cepr.org/publications/dp12619 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541431 |
| 推荐引用方式 GB/T 7714 | Jan Pieter Krahnen,Christian Wilde. DP12619 Skin-in-the-Game in ABS Transactions: A Critical Review of Policy Options. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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