LEADER 03566nam  22005295  450 
001 9910298199303321
005 20200629221224.0
010   $a3-658-20975-5
024 7 $a10.1007/978-3-658-20975-9
035   $a(CKB)3840000000347495
035   $a(MiAaPQ)EBC5261360
035   $a(DE-He213)978-3-658-20975-9
035   $a(PPN)224637150
035   $a(EXLCZ)993840000000347495
100   $a20180201d2018      u|         0
101 0 $aeng
135   $aurcnu||||||||
181   $2rdacontent
182   $2rdamedia
183   $2rdacarrier
200 10$aCovered Bonds under Unconventional Monetary Policy /$fby Holger Markmann
205   $a1st ed. 2018.
210  1$aWiesbaden :$cSpringer Fachmedien Wiesbaden :$cImprint: Springer Gabler,$d2018.
215   $a1 online resource (119 pages) $cillustrations, tables
225 1 $aEssays in Real Estate Research,$x2570-2246
311   $a3-658-20974-7 
320   $aIncludes bibliographical references.
330   $aHolger Markmann studies covered bonds and their market behaviour upon the announcement and implementation of outright covered bond purchases by the eurosystem. After introducing the covered bond market, its reaction to the global financial crisis, and the functionality of unconventional monetary policy to a broad audience, the author analyzes the impact of these purchases. The first Covered Bond Purchase Programme (CBPP1) has lowered covered bond spreads by 3-4 basis points in the short-term, 10 basis points in the medium-term, and increased emission volumes by ? 103 billion. CBPP2 and CBPP3 have not led to similar effects. However, the programs? effectiveness relies on the market?s expectations and its prevalent health. Contents Introduction to Covered Bonds and Unconventional Monetary Policy Impact on Covered Bond Emission Activity Medium- and Short-term Announcement Effects Monetary Policy Implications Target Groups Scientists and students in the fields of monetary policy, banking, finance, and real estate Practitioners in commercial bank treasuries and central bank policy setting About the Author Holger Markmann is PostDoc at the Real Estate Management Institute (REMI) of EBS Universität für Wirtschaft und Recht and Managing Director of a real estate investment firm. His research focuses on real estate capital market financing, bank funding, and unconventional monetary policy. Prior to his current roles, he worked for a bulge bracket investment bank, advising financial institutions on their M&A- and capital market activities.
410  0$aEssays in Real Estate Research,$x2570-2246
606   $aReal estate management
606   $aMacroeconomics
606   $aBanks and banking
606   $aReal Estate Management$3https://scigraph.springernature.com/ontologies/product-market-codes/527040
606   $aMacroeconomics/Monetary Economics//Financial Economics$3https://scigraph.springernature.com/ontologies/product-market-codes/W32000
606   $aBanking$3https://scigraph.springernature.com/ontologies/product-market-codes/626010
615  0$aReal estate management.
615  0$aMacroeconomics.
615  0$aBanks and banking.
615 14$aReal Estate Management.
615 24$aMacroeconomics/Monetary Economics//Financial Economics.
615 24$aBanking.
676   $a332.494
700   $aMarkmann$b Holger$4aut$4http://id.loc.gov/vocabulary/relators/aut$01059963
906   $aBOOK
912   $a9910298199303321
996   $aCovered Bonds under Unconventional Monetary Policy$92510001
997   $aUNINA