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Lehment, Harmen
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[Title:] The crisis and beyond [Editor:] Klodt, Henning [Editor:] Lehment, Harmen [Place:] Kiel [Publisher:] Kiel Institute for the World Economy [Year:] 2009 [Pages:] 24-29
The German scheme of creating national SPV-loopholes for structured assets is a relatively expensive way to 'buy time' for troubled banks and runs counter to the task of a more uniform and transparent international regulatory framework. It also does not provide a major incentive for a recapitalisation of banks, as the expected advantage of the envisaged new class of preferential shares over existing regular shares tends to be at best small.
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