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http://hdl.handle.net/10419/19763
  

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dc.contributor.authorBannier, Christina E.en_US
dc.contributor.authorFecht, Falkoen_US
dc.contributor.authorTyrell, Marcelen_US
dc.date.accessioned2009-01-28T16:05:03Z-
dc.date.available2009-01-28T16:05:03Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/19763-
dc.description.abstractOpen-end real estate funds are of particular importance in the German bank- dominated financial system. However, recently the German open-end fund industry came under severe distress which triggered a broad discussion of required regulatory interventions. This paper gives a detailed description of the institutional structure of these funds and of the events that led to the crisis. Furthermore, it applies recent banking theory to openend real estate funds in order to understand why the open-end fund structure was so prevalent in Germany. Based on these theoretical insights we evaluate the various policy recommendations that have been raised.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesDiscussion Paper, Series 2: Banking and Financial Supervision 2007,04en_US
dc.subject.jelG28en_US
dc.subject.jelG23en_US
dc.subject.ddc330en_US
dc.subject.keywordOpen-End Fundsen_US
dc.subject.keywordLiquidity Transformationen_US
dc.subject.keywordLiquidity Crisisen_US
dc.subject.keywordRisk Sharingen_US
dc.subject.stwImmobilienfondsen_US
dc.subject.stwZahlungsunfähigkeiten_US
dc.subject.stwFinanzintermediären_US
dc.subject.stwRisikoen_US
dc.subject.stwBankenaufsichten_US
dc.subject.stwDeutschlanden_US
dc.titleOpen-end real estate funds in Germany: genesis and crisisen_US
dc.typeWorking Paperen_US
dc.identifier.ppn527422614en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp2:5575-
Appears in Collections:Discussion Paper Series 2: Banking and Financial Studies, Deutsche Bundesbank

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