@techreport{Bannier2006Determinants,
abstract = {This paper provides new insights into the nature of loan securitization. We analyze the use of
collateralized loan obligation (CLO) transactions by European banks from 1997 to 2004 and
try to identify the influence that various firm-specific and macroeconomic factors may have
on an institution's securitization decision. We find that not only regulatory capital arbitrage
under Basel I has been driving the market. Rather, our results suggest that loan securitization
is an appropriate funding tool for banks with high risk and low liquidity. It may also have
been used by commercial banks to indirectly access investment-bank activities and the
associated gains.},
author = {Christina E. Bannier and Dennis N. H\"{a}nsel},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {G21; 330; Securitization; credit risk transfer; collateralized loan obligations},
language = {eng},
number = {171},
title = {Determinants of banks' engagement in loan securitization},
type = {Working paper series / Johann-Wolfgang-Goethe-Universit\"{a}t Frankfurt am Main, Fachbereich Wirtschaftswissenschaften : Finance & Accounting},
url = {http://hdl.handle.net/10419/23433},
year = {2006}
}
