Секюритизация на активи – същност и приложение, видове, предимства и недостатъци
Securitization of Assets - Essence and Application, Types, Advantages and Disadvantages

Author(s): Violeta Todorova
Subject(s): Politics / Political Sciences, Politics, Economy, Business Economy / Management, Economic policy, Financial Markets
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: securitization; assets; loans; risk; investors
Summary/Abstract: This article investigates a relatively new process of financial intermediation – securitization of assets. The main definitions and understandings so far about the nature of securitization are presented. Its different types are also examined - traditional securitization, balance synthetic securitization and arbitrage synthetic securitization. Opinions and findings about the advantages and disadvantages of securitization are summarized. Securitization can be a source of great benefits for the financial system and the credit institutions, as it provides opportunities for improvement of liquidity, risk redistribution, solving the problem with nonperforming loans and stimulation of lending. The lack of clear rules for the securitization process, the incorrect risk assessment during its implementation and the ineffective supervision of it are prerequisites for equally great losses.

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