Coverart for item
The Resource The use of mortgage covered bonds, prepared by Renzo G. Avesani, Antonio Garcia Pascual, and Elina Ribakova

The use of mortgage covered bonds, prepared by Renzo G. Avesani, Antonio Garcia Pascual, and Elina Ribakova

Label
The use of mortgage covered bonds
Title
The use of mortgage covered bonds
Statement of responsibility
prepared by Renzo G. Avesani, Antonio Garcia Pascual, and Elina Ribakova
Creator
Contributor
Author
Subject
Genre
Language
eng
Summary
The rapid mortgage credit growth experienced in recent years in mature and emerging countries has raised some stability concerns. Many European credit institutions in mature markets have reacted by increasing securitization, particularly via mortgage covered bonds. From the issuer's perspective, these instruments have become an attractive funding source and a tool for assetliability management; from the investor's perspective, covered bonds enjoy a favorable risk-return profile and a very liquid market. In this paper, we examine the two largest "jumbo" covered bond markets, Germany and Spain. We show how movements in covered bond prices can be used to analyze the credit developments of the underlying issuer and the quality of its mortgage portfolio. Our analysis also suggests that mortgage covered bonds could be of interest to other mature and emerging markets facing similar risks related to mortgage credit
Member of
Action
digitized
Cataloging source
OCLCE
http://bibfra.me/vocab/lite/collectionName
IMF eLibrary
http://library.link/vocab/creatorName
Avesani, Renzo G
Illustrations
illustrations
Index
no index present
LC call number
HG3881.5.I58
LC item number
W67 NO.07/20 ONLINE
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Garcia Pascual, Antonio
  • Ribakova, Elina
  • International Monetary Fund
http://library.link/vocab/subjectName
  • Credit
  • Mortgage bonds
  • Credit
  • Mortgage bonds
  • Risk management
  • Credit
  • Credit
  • Mortgage bonds
  • Risk management
  • European Union countries
  • Germany
  • Spain
Label
The use of mortgage covered bonds, prepared by Renzo G. Avesani, Antonio Garcia Pascual, and Elina Ribakova
Instantiates
Publication
Antecedent source
file reproduced from original
Bibliography note
Includes bibliographical references (page 15)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
black and white
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • I. Introduction; II. The European Mortgage Covered Bond Market; Figures; 1. Outstanding Volume of German Jumbo Mortgage Pfandbriefe and; 2. Covered Bond Legislation Across European Markets; III. Assessing the Credit Risk of Covered Bonds via Asset Swap Spreads; 3. Different Measures of Credit Risk; IV. The Jumbo Covered Bond Market: The German Pfandbriefe and the Spanish Cédulas Hipotecarias; A. The German Mortgage Pfandbriefe; B. The Spanish Cédulas Hipotecarias; 4. Asset Swap Spreads of Jumbo Mortgage Pfandbriefe
  • 5. Cédulas Hipotecarias: Overcollateralization of the Largest Four Credit Institutions6. Club Funding with Cédulas Hipotecarias; 7: Asset Swap Spreads of Jumbo Cédulas Hipotecarias; V. Conclusions; References; References; Appendixes; I: Asset Swap Calculation: an Application to Spanish Covered Bonds; II: Regulatory Framework for Pfandbriefe and Cédulas Hipotecarias
Control code
647174316
Dimensions
unknown
Extent
1 online resource (21 pages)
Form of item
online
Isbn
9781451865844
Issn
2227-8885
Level of compression
  • lossless
  • lossy
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781451910377.001
Other physical details
illustrations
Reformatting quality
  • preservation
  • access
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • imfWPIEA2007020
  • (IMF)WPIEA2007020
  • (OCoLC)647174316
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.
Label
The use of mortgage covered bonds, prepared by Renzo G. Avesani, Antonio Garcia Pascual, and Elina Ribakova
Publication
Antecedent source
file reproduced from original
Bibliography note
Includes bibliographical references (page 15)
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Color
black and white
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Contents
  • I. Introduction; II. The European Mortgage Covered Bond Market; Figures; 1. Outstanding Volume of German Jumbo Mortgage Pfandbriefe and; 2. Covered Bond Legislation Across European Markets; III. Assessing the Credit Risk of Covered Bonds via Asset Swap Spreads; 3. Different Measures of Credit Risk; IV. The Jumbo Covered Bond Market: The German Pfandbriefe and the Spanish Cédulas Hipotecarias; A. The German Mortgage Pfandbriefe; B. The Spanish Cédulas Hipotecarias; 4. Asset Swap Spreads of Jumbo Mortgage Pfandbriefe
  • 5. Cédulas Hipotecarias: Overcollateralization of the Largest Four Credit Institutions6. Club Funding with Cédulas Hipotecarias; 7: Asset Swap Spreads of Jumbo Cédulas Hipotecarias; V. Conclusions; References; References; Appendixes; I: Asset Swap Calculation: an Application to Spanish Covered Bonds; II: Regulatory Framework for Pfandbriefe and Cédulas Hipotecarias
Control code
647174316
Dimensions
unknown
Extent
1 online resource (21 pages)
Form of item
online
Isbn
9781451865844
Issn
2227-8885
Level of compression
  • lossless
  • lossy
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.5089/9781451910377.001
Other physical details
illustrations
Reformatting quality
  • preservation
  • access
Reproduction note
Electronic reproduction.
Specific material designation
remote
System control number
  • imfWPIEA2007020
  • (IMF)WPIEA2007020
  • (OCoLC)647174316
System details
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002.

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