Securitization retention as a tool for incentives’ alignment

Samuel Faccenda and Giacomo Manzelli
Additional contact information
Samuel Faccenda: Banca d’Italia
Giacomo Manzelli: Banca d’Italia

BANCARIA, 2011, vol. 09, 66-76

Abstract: During the crisis, the operators' confidence in securitization has significantly diminished and the market has registered a sharp slowdown. Among the regulatory initiatives proposed to support this market, retention can play an important role: it may not be sufficient to reduce the information asymmetries and to encourage securitization, but – by requiring the direct and explicit involvement in the transaction of the originator – it can contribute to the realignment of incentives between the originator and the final investor.

Keywords: cartolarizzazione; retention; vigilanza (search for similar items in EconPapers)
JEL-codes: G01 G21 G28 (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.bancariaeditrice.it/prodotti/vedi/prodotto/id/2530/bancaria-n-9-2011 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ban:bancar:v:09:y:2011:m:september:p:66-76

Access Statistics for this article

BANCARIA is currently edited by Bancaria Editrice - the publisher of the Italian Banking Association

More articles in BANCARIA from Bancaria Editrice
Bibliographic data for series maintained by Francesco Emiliano Tani ().