The Recourse Rule, Regulatory Arbitrage, and the Financial Crisis

Stephen Miller
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Stephen Miller: Mercury Publication

No 3097, Working Papers from George Mason University, Mercatus Center

Abstract: In November 2001, bank regulators finalized the so-called Recourse Rule, which lowered risk weights from 1 to 0.5 for A-rated and to 0.2 for AAA- and AA-rated private-label securitization tranches. After the rule change, on average, securitization-active

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Date: 2017-08-03
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