What is the value of recourse to asset-backed securities? A clinical study of credit card banks

Article Abstract:

Credit card securitization data is used to show that recourse to securitized debt may benefit short-term and long-term stock returns and long-term operating performance of sponsors. The asset-backed security market appears to be like the commercial paper market, where a firm's ability to issue is directly correlated with credit quality.

United States, Personal credit institutions, Models, Credit and debit card industry, Credit card industry, Asset-backed securities, Asset backed securities

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Credit risk in the leasing industry

Article Abstract:

The credit risk modeling issues of retail lease portfolios are discussed. The probability density function of losses and VaR measures in a portfolio of 46,732 leases issued between 1990 and 2000 by a major European financial institution, are examined by using a resampling method.

Europe, Leases, Credit market, Credit markets

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Sovereign credit ratings: guilty beyond reasonable doubt?

Article Abstract:

The effects of negative economic ratings by credit rating agencies on economic conditions of East Asian countries are analyzed.

Asia, Economic aspects, Economic conditions, East Asia, Rating agencies (Securities)

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