Securitization: Key Trends Since the Crisis

Martin Scheicher and Stefanie Wehmeyer
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Martin Scheicher: European Central Bank
Stefanie Wehmeyer: Commerzbank

Chapter 8 in Securitization: Past, Present and Future, 2017, pp 145-167 from Palgrave Macmillan

Abstract: Abstract This chapter is written by Martin Scheicher (ECB) and Stefanie Wehmeyer (Commerzbank). Any views expressed are solely those of the authors and cannot be taken to represent those of the ECB or Commerzbank. The chapter discusses the main changes in the EU securitization market since the outbreak of the global financial crisis in 2007. The financial crisis has profoundly affected the securitization market in the EU. The high level of activity in the cash market, which we observed in the early 2000s, has come to a virtual standstill. Nevertheless, some specialised segments continue to see genuine issuance to the market and therefore material transfer of credit risk away from banks. As a result, the euro area securitization market has been transformed from an active sector of the fixed income market towards the status of a relatively small niche market.

Keywords: Securitization Market; Fixed Income Market; Credit riskCredit Risk; Securitization Positions; Synthetic Securitization (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-3-319-60128-1_8

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DOI: 10.1007/978-3-319-60128-1_8

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