I investigate the determinants of the securitization activities of Italian cooperative banks during the financial and economic crisis (2007–2014) and the impact of securitization on the supply of loans to SMEs. The less deposit-funded, less profitable and less capitalized cooperative banks are, the more likely they are to securitize and the more likely it is that they will securitize to a larger extent. Furthermore, I find that securitization has not directly affected the supply of new SME loans. However, there is strong evidence of a risk-rebalancing effect of securitization on the balance sheet, especially in the period 2010–2014.

(2018). Mortgage-backed Securitization and SME Lending During the Financial and Economic Crisis: Evidence from the Italian Cooperative Banking System [journal article - articolo]. In ECONOMIC NOTES. Retrieved from http://hdl.handle.net/10446/82680

Mortgage-backed Securitization and SME Lending During the Financial and Economic Crisis: Evidence from the Italian Cooperative Banking System

Castellani, Davide
2018-01-01

Abstract

I investigate the determinants of the securitization activities of Italian cooperative banks during the financial and economic crisis (2007–2014) and the impact of securitization on the supply of loans to SMEs. The less deposit-funded, less profitable and less capitalized cooperative banks are, the more likely they are to securitize and the more likely it is that they will securitize to a larger extent. Furthermore, I find that securitization has not directly affected the supply of new SME loans. However, there is strong evidence of a risk-rebalancing effect of securitization on the balance sheet, especially in the period 2010–2014.
articolo
2018
Castellani, Davide
(2018). Mortgage-backed Securitization and SME Lending During the Financial and Economic Crisis: Evidence from the Italian Cooperative Banking System [journal article - articolo]. In ECONOMIC NOTES. Retrieved from http://hdl.handle.net/10446/82680
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Descrizione: "This is the peer reviewed version of the following article: Mortgage-backed Securitization and SME Lending During the Financial and Economic Crisis: Evidence from the Italian Cooperative Banking System which has been published in final form at 10.1111/ecno.12096"
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10446/82680
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