Show Summary Details

Page of

PRINTED FROM OXFORD HANDBOOKS ONLINE (www.oxfordhandbooks.com). © Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a title in Oxford Handbooks Online for personal use (for details see Privacy Policy and Legal Notice).

date: 21 August 2018

Abstract and Keywords

This article starts by introducing some of the main instruments used in the securitization markets, which are often utilized as building blocks to construct more complex instruments. It then briefly reviews the spectacular increase in securitization that occurred globally and considers the main originators' motives for using those instruments. The last section discusses some potential effects of securitization on how banks operate, on the broad financial system, on risk taking, and on the transmission mechanism of monetary policy. Throughout, the article considers the effects of the recent crisis on credit markets and dwells on how it has affected securitization and more broadly the markets for credit risk transfers. It illustrates the repricing both for corporate credit risk as well as for US subprime ‘asset-backed securities’.

Keywords: securitization markets, securitization instruments, monetary policy, US subprime asset-backed securities, credit market, credit risk transfer

Access to the complete content on Oxford Handbooks Online requires a subscription or purchase. Public users are able to search the site and view the abstracts and keywords for each book and chapter without a subscription.

Please subscribe or login to access full text content.

If you have purchased a print title that contains an access token, please see the token for information about how to register your code.

For questions on access or troubleshooting, please check our FAQs, and if you can''t find the answer there, please contact us.