Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/60798 
Erscheinungsjahr: 
2010
Schriftenreihe/Nr.: 
Staff Report No. 468
Verlag: 
Federal Reserve Bank of New York, New York, NY
Zusammenfassung: 
Most mortgages in the United States are securitized through the agency mortgage-backedsecurities (MBS) market. These securities are generally traded on a 'to-be-announced,' or TBA, basis. This trading convention significantly improves agency MBS liquidity, leading to lower borrowing costs for households. Evaluation of potential reforms to the U.S. housing finance system should take into account the effects of those reforms on the operation of the TBA market.
Schlagwörter: 
Mortgage-backed securities
TBA trading
liquidity
adverse selection
JEL: 
G21
G12
G19
Dokumentart: 
Working Paper

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