How Banks Played the Leverage Game
How Banks Played the Leverage Game
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银行如何玩杠杆游戏
DOI：
10.1111/j.1468-0416.2009.00147_5.x
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发表时间：
2009
影响因子：
--
通讯作者：
P. Schnabl
中科院分区：
文献类型：
--
作者：
V. Acharya;P. Schnabl
本文重点研究了美国金融业中信用风险转移机制的存在，指出资产支持商业票据（ABCP）的形成和银行持有AAA级资产支持证券是监管套利的两种形式。此外，它还注意到改善银行规则和业务的政策建议。
The article focuses on the existence of credit risk transfer mechanisms in a heavily regulated financial sector in the US It notes the formation of asset-backed commercial paper (ABCP) and the retention by banks of AAA-rated asset backed securities as the two forms of regulatory arbitrage. Moreover, it also notes the policy recommendations to improve banking rules and operation.