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International Economics (Fach) / Macro Finance (Lektion)
Financial Crisis
Quantitative Easing
Credit Crunch
Diese Lektion wurde von Lore1994 erstellt.
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- key factors leading up to the housing bubble large capital inflows from abroad lax interest rate policy transformation of the banking sector
- Traditional Banking Model issuing banks hold loan until they are repaid
- "originate and distribute" banking model loans are pooled, tranched and then resold via securitization
- key features of the new banking model emergence of structured products increasing complexity shorter maturity perceived diversification overall, more risk taking and underestimation of risk
- Steps to create CDOs form diversified portfolios of mortgages and other types of loans, corporate bonds and other assets like credit card receivables, portfolio is transferred to a special purpose verhice (SPV) slice these portfolios into different tranches sell tranches to investor groups with different risk attitudes
- banking industry trends leading up to the liquidity squeeze securitization shorter maturity structure overnight repo market off-balance sheet vehicles
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