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The Costs of Sovereign Default / / Eduardo Borensztein, Ugo Panizza
| The Costs of Sovereign Default / / Eduardo Borensztein, Ugo Panizza |
| Autore | Borensztein Eduardo |
| Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2008 |
| Descrizione fisica | 1 online resource (52 p.) |
| Disciplina | 336.3435 |
| Altri autori (Persone) | PanizzaUgo |
| Collana |
IMF Working Papers
IMF working paper |
| Soggetto topico |
Debts, External - Econometric models
Default (Finance) - Econometric models Debts, Public Financial crises - Econometric models Bank failures - Econometric models Banks and Banking Exports and Imports Money and Monetary Policy International Lending and Debt Problems Monetary Policy, Central Banking, and the Supply of Money and Credit: General Financial Crises International economics Monetary economics Economic & financial crises & disasters Trade credits Banking crises Credit ratings Bank credit Debt default Debts, External Financial crises Credit |
| ISBN |
1-4623-3157-2
1-4527-0165-2 1-4518-7096-5 1-282-84189-0 9786612841897 |
| Formato | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Contents; I. Introduction; II. Two Hundred Years of Sovereign Default; III. Default and GDP Growth; IV. Default and Reputation; V. Default and International Trade; VI. Default and the Domestic Banking System; VII. Political Implications of Default; VIII. Conclusions; References; Figures; 1. Number of Defaults (1824-2004); Tables; 1. Default Episodes; 2. Default and Growth, Panel 1972-2000; 3. Default and Growth, Panel 1972-2000; 4. Default and Credit Ratings, Cross Section Regression, 1999-2002; 5. Defaults and Bond Spreads, Panel Regression, 1997-2004; 6. Default and Trade Credit
7. Default and Trade: Does Trade Credit Matter?8. Probabilities of Default and Banking Crisis; 9. Default and Industry Value-Added Growth; 10. Defaults and Elections; 11. Type of Default; 12. Type of Default and Government; Appendix Tables; A1. Private Lending to Sovereign. Default and Rescheduling; A2: Logit Model for the Probability of Default |
| Record Nr. | UNINA-9910788344403321 |
Borensztein Eduardo
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| Washington, D.C. : , : International Monetary Fund, , 2008 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
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The Costs of Sovereign Default / / Eduardo Borensztein, Ugo Panizza
| The Costs of Sovereign Default / / Eduardo Borensztein, Ugo Panizza |
| Autore | Borensztein Eduardo |
| Edizione | [1st ed.] |
| Pubbl/distr/stampa | Washington, D.C. : , : International Monetary Fund, , 2008 |
| Descrizione fisica | 1 online resource (52 p.) |
| Disciplina | 336.3435 |
| Altri autori (Persone) | PanizzaUgo |
| Collana |
IMF Working Papers
IMF working paper |
| Soggetto topico |
Debts, External - Econometric models
Default (Finance) - Econometric models Debts, Public Financial crises - Econometric models Bank failures - Econometric models Banks and Banking Exports and Imports Money and Monetary Policy International Lending and Debt Problems Monetary Policy, Central Banking, and the Supply of Money and Credit: General Financial Crises International economics Monetary economics Economic & financial crises & disasters Trade credits Banking crises Credit ratings Bank credit Debt default Debts, External Financial crises Credit |
| ISBN |
1-4623-3157-2
1-4527-0165-2 1-4518-7096-5 1-282-84189-0 9786612841897 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Contents; I. Introduction; II. Two Hundred Years of Sovereign Default; III. Default and GDP Growth; IV. Default and Reputation; V. Default and International Trade; VI. Default and the Domestic Banking System; VII. Political Implications of Default; VIII. Conclusions; References; Figures; 1. Number of Defaults (1824-2004); Tables; 1. Default Episodes; 2. Default and Growth, Panel 1972-2000; 3. Default and Growth, Panel 1972-2000; 4. Default and Credit Ratings, Cross Section Regression, 1999-2002; 5. Defaults and Bond Spreads, Panel Regression, 1997-2004; 6. Default and Trade Credit
7. Default and Trade: Does Trade Credit Matter?8. Probabilities of Default and Banking Crisis; 9. Default and Industry Value-Added Growth; 10. Defaults and Elections; 11. Type of Default; 12. Type of Default and Government; Appendix Tables; A1. Private Lending to Sovereign. Default and Rescheduling; A2: Logit Model for the Probability of Default |
| Record Nr. | UNINA-9910810966903321 |
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Borensztein Eduardo
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| Washington, D.C. : , : International Monetary Fund, , 2008 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
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Cómo refutar errores en los informes de crédito = : How to dispute credit report errors
| Cómo refutar errores en los informes de crédito = : How to dispute credit report errors |
| Pubbl/distr/stampa | [Washington, D.C.] : , : Comisión Federal de Comercio, Negociado de Protección del Consumidor, Oficina de Educación del Consumidor y los Negocios, , [2005] |
| Descrizione fisica | 6 pages : digital, PDF file |
| Collana | Información de la FTC para consumidores |
| Soggetto topico |
Credit ratings - United States
Credit ratings |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | spa |
| Altri titoli varianti | How to dispute credit report errors. |
| Record Nr. | UNINA-9910697775003321 |
| [Washington, D.C.] : , : Comisión Federal de Comercio, Negociado de Protección del Consumidor, Oficina de Educación del Consumidor y los Negocios, , [2005] | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Cómo reparar su crédito
| Cómo reparar su crédito |
| Pubbl/distr/stampa | [Washington, D.C.] : , : Comisión Federal de Comercio, , 2018 |
| Descrizione fisica | 1 online resource (13 pages) |
| Soggetto topico |
Credit ratings
Credit Consumer credit Finance, Personal |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | spa |
| Record Nr. | UNINA-9910712991803321 |
| [Washington, D.C.] : , : Comisión Federal de Comercio, , 2018 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
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Credit and your consumer rights [[electronic resource]]
| Credit and your consumer rights [[electronic resource]] |
| Pubbl/distr/stampa | [Washington, D.C.] : , : Federal Trade Commission, Bureau of Consumer Protection, Division of Consumer and Business Education, , [2005] |
| Descrizione fisica | 1 online resource (4 pages) |
| Collana | FTC facts for consumers |
| Soggetto topico |
Consumer protection - United States
Consumer credit - United States Credit ratings - United States Consumer credit Consumer protection Credit ratings |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Record Nr. | UNINA-9910695121203321 |
| [Washington, D.C.] : , : Federal Trade Commission, Bureau of Consumer Protection, Division of Consumer and Business Education, , [2005] | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
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Credit rating agencies / / Giulia Mennillo
| Credit rating agencies / / Giulia Mennillo |
| Autore | Mennillo Giulia |
| Pubbl/distr/stampa | London, England : , : Agenda Publishing, , [2022] |
| Descrizione fisica | 1 online resource (148 pages) |
| Disciplina | 332.178 |
| Collana | Finance Matters |
| Soggetto topico |
Rating agencies (Finance)
Credit bureaus Credit ratings |
| ISBN | 1-78821-540-0 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Cover -- Half Title -- Series Information -- Title Page -- Dedication -- Copyright Page -- Contents -- Acknowledgements -- List of figures and tables -- List of abbreviations -- Introduction -- Why CRAs have become important -- The CRAs' role in the global financial crisis of 2008 -- Current status of the rating agencies: "anything but discredited players"? -- The resilience of CRAs -- Overview of the book -- 1 The "what" and the "who" about credit rating -- What is a rating and what is it not? -- CRAs as a case of structural power -- The Big Three -- Standard & -- Poor's Global Ratings -- Moody's Investors Service -- Fitch Ratings -- Technological change and the commodification of rating -- 2 What do credit rating agencies do? -- The authors of the common language of credit risk -- The rating scale -- Investment grade, or not investment grade -- that is the question -- Rating methodologies -- Sovereigns -- Sub-sovereigns -- Corporate rating methodology -- Discussion -- Rating through the cycle -- The caveat of the invisible in the visible: reading between the lines -- 3 The use of ratings -- Issuers, investors and intermediaries -- The collateral framework of the European Central Bank -- The standardized approach for credit risk in the Basel regulatory framework -- What are the alternatives to the regulatory use of ratings? -- Is there no alternative to external CRA ratings? -- The initiative of the Financial Stability Board to reduce the CRA reliance -- Wishful thinking: back to Basel I? -- 4 Credit rating agencies under criticism -- Conflicts of interest -- The US home bias -- The lack of competition -- The timeliness of ratings -- The CRA critique and the CRAs' authority -- 5 Regulating the credit rating agencies -- US efforts -- Transnational efforts -- EU efforts -- An assessment of the CRA regulations enacted after the GFC.
6 Credit rating in China -- A brief history -- The major players -- Dagong's sovereign ratings: challenging the Big Three or just reinventing the wheel? -- Dysfunctionality in the rating market: causes and indicators -- Liberalizing China's rating market -- Conclusion -- Notes -- References -- Index. |
| Record Nr. | UNINA-9910795884603321 |
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Mennillo Giulia
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||
| London, England : , : Agenda Publishing, , [2022] | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
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Credit rating agencies / / Giulia Mennillo
| Credit rating agencies / / Giulia Mennillo |
| Autore | Mennillo Giulia |
| Pubbl/distr/stampa | London, England : , : Agenda Publishing, , [2022] |
| Descrizione fisica | 1 online resource (148 pages) |
| Disciplina | 332.178 |
| Collana | Finance Matters |
| Soggetto topico |
Rating agencies (Finance)
Credit bureaus Credit ratings |
| ISBN | 1-78821-540-0 |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Cover -- Half Title -- Series Information -- Title Page -- Dedication -- Copyright Page -- Contents -- Acknowledgements -- List of figures and tables -- List of abbreviations -- Introduction -- Why CRAs have become important -- The CRAs' role in the global financial crisis of 2008 -- Current status of the rating agencies: "anything but discredited players"? -- The resilience of CRAs -- Overview of the book -- 1 The "what" and the "who" about credit rating -- What is a rating and what is it not? -- CRAs as a case of structural power -- The Big Three -- Standard & -- Poor's Global Ratings -- Moody's Investors Service -- Fitch Ratings -- Technological change and the commodification of rating -- 2 What do credit rating agencies do? -- The authors of the common language of credit risk -- The rating scale -- Investment grade, or not investment grade -- that is the question -- Rating methodologies -- Sovereigns -- Sub-sovereigns -- Corporate rating methodology -- Discussion -- Rating through the cycle -- The caveat of the invisible in the visible: reading between the lines -- 3 The use of ratings -- Issuers, investors and intermediaries -- The collateral framework of the European Central Bank -- The standardized approach for credit risk in the Basel regulatory framework -- What are the alternatives to the regulatory use of ratings? -- Is there no alternative to external CRA ratings? -- The initiative of the Financial Stability Board to reduce the CRA reliance -- Wishful thinking: back to Basel I? -- 4 Credit rating agencies under criticism -- Conflicts of interest -- The US home bias -- The lack of competition -- The timeliness of ratings -- The CRA critique and the CRAs' authority -- 5 Regulating the credit rating agencies -- US efforts -- Transnational efforts -- EU efforts -- An assessment of the CRA regulations enacted after the GFC.
6 Credit rating in China -- A brief history -- The major players -- Dagong's sovereign ratings: challenging the Big Three or just reinventing the wheel? -- Dysfunctionality in the rating market: causes and indicators -- Liberalizing China's rating market -- Conclusion -- Notes -- References -- Index. |
| Record Nr. | UNINA-9910824866903321 |
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Mennillo Giulia
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| London, England : , : Agenda Publishing, , [2022] | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
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Credit rating agency reform [[electronic resource] /] / John De Luca and Paul Russo, editors
| Credit rating agency reform [[electronic resource] /] / John De Luca and Paul Russo, editors |
| Pubbl/distr/stampa | New York, : Nova Science Publishers, c2009 |
| Descrizione fisica | 1 online resource (227 p.) |
| Disciplina | 332.7/13 |
| Altri autori (Persone) |
De LucaJohn
RussoPaul |
| Soggetto topico |
Credit bureaus
Credit ratings |
| Soggetto genere / forma | Electronic books. |
| ISBN | 1-61728-212-X |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Record Nr. | UNINA-9910460044303321 |
| New York, : Nova Science Publishers, c2009 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Credit rating agency reform [[electronic resource] /] / John De Luca and Paul Russo, editors
| Credit rating agency reform [[electronic resource] /] / John De Luca and Paul Russo, editors |
| Pubbl/distr/stampa | New York, : Nova Science Publishers, c2009 |
| Descrizione fisica | 1 online resource (227 p.) |
| Disciplina | 332.7/13 |
| Altri autori (Persone) |
De LucaJohn
RussoPaul |
| Soggetto topico |
Credit bureaus
Credit ratings |
| ISBN | 1-61728-212-X |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Record Nr. | UNINA-9910785180503321 |
| New York, : Nova Science Publishers, c2009 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
| ||
Credit rating agency reform [[electronic resource] /] / John De Luca and Paul Russo, editors
| Credit rating agency reform [[electronic resource] /] / John De Luca and Paul Russo, editors |
| Edizione | [1st ed.] |
| Pubbl/distr/stampa | New York, : Nova Science Publishers, c2009 |
| Descrizione fisica | 1 online resource (227 p.) |
| Disciplina | 332.7/13 |
| Altri autori (Persone) |
De LucaJohn
RussoPaul |
| Soggetto topico |
Credit bureaus
Credit ratings |
| ISBN | 1-61728-212-X |
| Formato | Materiale a stampa |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione | eng |
| Nota di contenuto |
Intro -- CREDIT RATING AGENCY REFORM -- CREDIT RATING AGENCY REFORM -- CONTENTS -- PREFACE -- Chapter 1 CREDIT RATING AGENCY BACKGROUND -- I. BACKGROUND -- A. Introduction -- B. The Credit Rating Agency Reform Act of 2006 -- C. The Role of Credit Ratings in the Credit Market Turmoil -- 1. THE CREATION OF SUBPRIME RMBS AND CDOS -- 2. DETERMINING CREDIT RATINGS FOR SUBPRIME RMBS AND CDOS -- 3. THE DOWNGRADES IN CREDIT RATINGS OF SUBPRIME RMBS AND CDOS -- II. PROPOSED AMENDMENTS -- A. Amendments to Rule 17g-5 -- 1. ADDRESSING THE PARTICULAR CONFLICT ARISING FROM RATING STRUCTURED FINANCE PRODUCTS BY ENHANCING THE DISCLOSURE OF INFORMATION USED IN THE RATING PROCESS -- a. The Proposed Amendment -- b. Proposed Guidance for Compliance with Provisions of the Securities Act of 1933 -- I. Public Offerings -- II. Private Offerings -- III. Offshore Offerings -- 2. RULE 17G-5 PROHIBITION ON CONFLICT OF INTEREST RELATED TO RATING AN OBLIGOR OR DEBT SECURITY WHERE OBLIGOR OR ISSUER RECEIVED RATINGS RECOMMENDATIONS FROM THE NRSRO OR PERSON ASSOCIATED WITH THE NRSRO -- 3.RULE 17G-5 PROHIBITION ON CONFLICT OF INTEREST RELATED TO THE PARTICIPATION OF CERTAIN PERSONNEL IN FEE DISCUSSIONS -- 4. RULE 17G-5 PROHIBITION OF CONFLICT OF INTEREST RELATED TO RECEIPT OF GIFTS -- B. Amendments to Rule 17g-2 -- 1. A Record of Rating Actions and the Requirement that they be made Publicly Available -- 2. A Record of Material Deviation from Model Output -- 3. Records Concerning Third-Party Analyst Complaints -- Clarifying Amendment to Rule 17g-2(b)(7) -- C. Amendments to the Instructions for Form NRSRO -- 1. Enhanced Ratings Performance Measurement Statistics on Form NRSRO -- 2. Enhanced Disclosure of Ratings Methodologies -- D. Amendment to Rule 17g-3 (Report of Credit Rating Actions).
III. PROPOSED NEW RULE 17G-7 (SPECIAL REPORTING OR USE OF SYMBOLS TO DIFFERENTIATE CREDIT RATINGS FOR STRUCTURED FINANCE PRODUCTS) -- IV. PAPERWORK REDUCTION ACT -- A. Collections of Information under the Proposed Amendments -- B. Proposed Use of Information -- C. Respondents -- D. Total Annual Recordkeeping and Reporting Burden -- 1. Amendments to Form NRSRO -- 2. Amendments to Rule 17g-2 -- 3. Proposed Amendment to Rule 17g-3 -- 4. Amendments to Rule 17g-5 -- 5. Proposed Rule 17g-7 -- E. Collection of Information Is Mandatory -- F. Confidentiality -- G. Record Retention Period -- H. Request for Comment -- V. COSTS AND BENEFITS OF THE PROPOSED RULES -- A. Benefits -- B. Costs -- 1. Proposed Amendments to Form NRSRO -- 2. Proposed Amendments to Rule 17g-2 -- 3. Proposed Amendment to Rule 17g-3 -- 4. Proposed Amendments to Rule 17g-5 -- 5. Proposed Rule 17g-7 -- C. Total Estimated Costs and Benefits of this Rulemaking -- VI. CONSIDERATION OF BURDEN ON COMPETITION AND PROMOTION OF EFFICIENCY, COMPETITION, AND CAPITAL FORMATION -- VII. CONSIDERATION OF IMPACT ON THE ECONOMY -- VIII. INITIAL REGULATORY FLEXIBILITY ANALYSIS -- A. Reasons for the Proposed Action -- B. Objectives -- C. Legal Basis -- D. Small Entities Subject to the Rule -- E. Reporting, Recordkeeping, and Other Compliance Requirements -- F. Duplicative, Overlapping, or Conflicting Federal Rules -- G. Significant Alternatives -- H. Request for Comments -- IX. STATUTORY AUTHORITY -- Text of Proposed Rules -- List of Subjects in 17 CFR Parts 240 and 249b -- Part 240-General Rules and Regulations, Securities Exchange Act of 1934 -- Exhibit 1 -- Exhibit 2 -- REFERENCES -- Chapter 2 SUMMARY REPORT OF ISSUES IDENTIFIED IN THE COMMISSION STAFF'S EXAMINATIONS OF SELECT CREDIT RATING AGENCIES -- I. SUMMARY -- II. BACKGROUND -- A. The Examinations. B. Current Regulatory Requirements and Proposed New Rules and Rule Amendments with Respect to Credit Rating Agencies -- III. THE RATINGS PROCESS -- A. The Creation of RMBS and CDOs -- B. Determining Credit Ratings for RMBS and CDOs -- IV. THE STAFF'S EXAMINATIONS: SUMMARY OF FACTUAL FINDINGS, OBSERVATIONS AND RECOMMENDATIONS -- A. There was a Substantial Increase in the Number and in the Complexity of RMBS and CDO Deals Since 2002, and Some Rating Agencies Appeared to Struggle with the Growth -- Remedial Action -- B. Significant Aspects of the Ratings Process Were Not Always Disclosed -- Current Regulatory Requirements -- Remedial Action -- Proposed Rules and Rule Amendments that Would Address These Issues -- C. Policies and Procedures for Rating RMBS and CDOs Can be Better Documented -- Current Regulatory Requirements -- Remedial Action -- D. Rating Agencies are Implementing New Practices with Respect to the Information Provided to Them -- Proposed Rules and Rule Amendments that Would Address Verification -- E. Rating Agencies Did Not Always Document Significant Steps in the Ratings Process -- Including the Rationale for Deviations from Their Models and for Rating Committee Actions and Decisions -- and They Did Not Always Document Significant Participants in the Ratings Process -- Current Regulatory Requirements -- Remedial Action -- Proposed Rules and Rule Amendments that Would Address These Issues -- F. The Surveillance Processes Used by the Rating Agencies Appear to Have Been Less Robust than Their Initial Ratings Processes -- Current Regulatory Requirements -- Remedial Action -- Proposed Rules and Rule Amendments that Would Address These Issues -- G. Issues Were Identified in the Management of Conflicts of Interest and Improvements Can be Made -- 1. The "Issuer Pays" Conflict. Proposed Rules and Rule Amendments that Would Address These Issues -- Current Regulatory Requirements -- Remedial Action -- Proposed Rules and Rule Amendments that Would Address These Issues -- 2. Analysts' Compensation -- 3. Securities Transactions by Employees of Credit Rating Agencies -- Current Regulatory Requirements -- Remedial Action -- H. Internal Audit Processes -- Current Regulatory Requirements -- Remedial Action -- V. OBSERVATIONS BY THE OFFICE OF ECONOMIC ANALYSIS -- A. Conflicts of Interest -- B. Factual Summary of the Ratings Process for RMBS -- Risk Variables -- 2. Use of Historical Data -- 3. Surveillance of Ratings -- C. Factual Summary of the Ratings Process for CDOs -- VI. CONCLUSION -- REFERENCES -- Chapter 3 FEDERAL RESERVE BANK OF NEW YORK STAFF REPORTS: UNDERSTANDING THE SECURITIZATION OF SUBPRIME MORTGAGE CREDIT* -- ABSTRACT -- EXECUTIVE SUMMARY -- 1. INTRODUCTION -- 2. OVERVIEW OF SUBPRIME MORTGAGE CREDIT SECURITIZATION -- 2.1. The Seven Key Frictions -- 2.1.1. Frictions between the Mortgagor and Originator: Predatory Lending -- 2.1.2. Frictions between the Originator and the Arranger: Predatory Lending and Borrowing -- 2.1.3. Frictions between the Arranger and Third-Parties: Adverse Selection -- Adverse Selection and the Warehouse Lender -- Adverse Selection and the Asset Manager -- Adverse Selection and Credit Rating Agencies -- 2.1.4. Frictions between the Servicer and the Mortgagor: Moral Hazard -- 2.1.5. Frictions between the Servicer and Third-Parties: Moral Hazard -- Moral Hazard between the Servicer and the Asset Manager4 -- Moral Hazard between the Servicer and the Credit Rating Agency -- 2.1.6. Frictions between the Asset Manager and Investor: Principal-Agent -- 2.1.7. Frictions between the Investor and the Credit Rating Agencies: Model Error -- 2.2. Five Frictions that Caused the Subprime Crisis. 3. AN OVERVIEW OF SUBPRIME MORTGAGE CREDIT -- The Motivating Example -- 3.1. Who Is the Subprime Mortgagor? -- The Motivating Example -- Industry Trends -- 3.2. What Is a Subprime Loan? -- The Motivating Example -- Industry Trends -- The Impact of Payment Reset on Foreclosure -- 3.3. How Have Subprime Loans Performed? -- Motivating Example -- Industry -- 3.4. How Are Subprime Loans Valued? -- 4. OVERVIEW OF SUBPRIME MBS -- 4.1. Subordination -- 4.2. Excess Spread -- 4.3. Shifting Interest -- 4.4. Performance Triggers -- 4.5. Interest Rate Swap -- 4.6. Remittance Reports -- 5. AN OVERVIEW OF SUBPRIME MBS RATINGS -- 5.1. What Is a Credit Rating? -- 5.2. How Does One Become a Rating Agency?17 -- 5.3. When Is a Credit Rating Wrong? How Could We Tell? -- 5.4. The Subprime Credit Rating Process -- 5.4.1. Credit Enhancement -- 5.5. Conceptual Differences between Corporate and ABS Credit Ratings -- 5.6. How through-the-Cycle Rating Could Amplify the Housing Cycle -- 5.7. Cash Flow Analytics for Excess Spread -- The Timing of Losses -- Prepayment Risk -- Interest Rate Risk -- Other Details -- Motivating Example -- 5.8. Performance Monitoring -- 5.9. Home Equity ABS Rating Performance -- 6. THE RELIANCE OF INVESTORS ON CREDIT RATINGS: A CASE STUDY -- 6.1. Overview of the Fund -- Fund Adequacy -- Portfolio Composition -- 6.2. Fixed-Income Asset Management -- Mandates (from ORC Sec 742.11) -- Asset Management -- 7. CONCLUSIONS -- REFERENCES -- APPENDIX 1: PREDATORY LENDING -- The Role of the Rating Agencies -- APPENDIX 2: PREDATORY BORROWING -- Fraud for Housing -- Fraud for Profit -- The Role of the Rating Agencies -- APPENDIX 3: SOME ESTIMATES OF PD BY RATING -- INDEX -- Blank Page. |
| Record Nr. | UNINA-9910812384103321 |
| New York, : Nova Science Publishers, c2009 | ||
| Materiale a stampa | ||
| Lo trovi qui: Univ. Federico II | ||
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