Limit search to available items
Book Cover
E-book

Title Germany : technical note on the future of German mortgage-backed covered Bond (PFandBrief) and securitization markets
Published Washington, D.C. : International Monetary Fund, [2011]
©2011

Copies

Description 1 online resource (36 pages)
Series IMF country report ; no. 11/369
IMF country report ; no. 11/369.
Contents Cover; Contents; Glossary; I. Introduction and Summary; II. Covered Bonds versus Securitization; A. German Covered Bonds (Pfandbriefe); Figures; 1. German Mortgage-Backed Covered Bond and Mortgage-Backed Securities Issuance; 2. German Non-Jumbo Versus Jumbo Pfandbrief Issuance; B. German Mortgage Securitization; Boxes; 1. The German True Sale Securitization Initiative; 2. Recent European Mortgage Securitization Issuance; 3. The KfW PROVIDE Securitization Platform; Tables; 1. Comparative Performance of Securitization Markets in Germany, Europe, and the United States
3. German Asset-Backed Securitization (Non-Mortgage)4. Small- and Medium-Sized Enterprise Securitization in Germany; C. Comparison of German Covered Bonds (Pfandbriefe) with Securitization; 2. Comparison of United States and German Loan Origination and Securitization; 5. Covered Bond Credit Rating Uplift; 3. Covered Bonds, Mortgage-Backed Securities and Senior Unsecured Debt Comparison; III. New Legislation and Regulations Could Make Securitization Less Attractive; A. Making Securitization Products Safer Through Risk Retention and Transparency; 6. Incentive Problems in Securitization
B. Making Securitization Products Less (and Covered Bonds More) Attractive to InvestorsC. Need for a Balanced Approach to Regulating Covered Bonds and Securitization; D. Systemic Risk Considerations; 4. Credit Spreads on Pfandbriefe and Covered Bonds; 7. Regulatory Capital Treatment of Holdings of Credit Institutions; E. Summary and Conclusions
Summary As part of the 2011 Financial Sector Assessment Program (FSAP) update for Germany, this Technical Note reviews recent developments of mortgage-covered bond (Pfandbrief) and mortgage securitization markets in Germany, and explores future prospects for each against the background of ongoing regulatory changes. It examines the characteristics of the two markets and their performance through the crisis, and analyzes some of the policy reactions that are currently tending to favor covered bonds over securitization. Some of the systemic vulnerabilities associated with covered bonds are also discussed
Notes "December 2011."
Bibliography Includes bibliographical references (pages 33-36)
Notes Online resource; title from PDF caption title (IMF, viewed November 1, 2013)
Subject Mortgage-backed securities -- Germany
Covered bonds -- Germany
Covered bonds
Economic history
Mortgage-backed securities
SUBJECT Germany -- Economic conditions -- 1990- http://id.loc.gov/authorities/subjects/sh91000418
Subject Germany
Form Electronic book
Author International Monetary Fund, issuing body.
ISBN 1283569892
9781283569897
1463955391
9781463955397
9781463928544
1463928548
Other Titles Future of German mortgage-backed covered Bond (PFandBrief) and securitization markets : technical note
Subtitle: Technical note on the future of German mortgage-backed covered Bond (PFandBrief) and securitization markets
At head of title page title: Financial Sector Assessment Program update, Germany