Revitalizing Securitization for Small and Medium-Sized Enterprises in Europe

Business & Finance, Economics, Money & Monetary Policy, Macroeconomics
Cover of the book Revitalizing Securitization for Small and Medium-Sized Enterprises in Europe by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst, INTERNATIONAL MONETARY FUND
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst ISBN: 9781484335239
Publisher: INTERNATIONAL MONETARY FUND Publication: May 7, 2015
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
ISBN: 9781484335239
Publisher: INTERNATIONAL MONETARY FUND
Publication: May 7, 2015
Imprint: INTERNATIONAL MONETARY FUND
Language: English

Small and medium-sized enterprises (SMEs) account for a disproportionate share of output and employment in Europe but are still highly dependent on bank finance, which dried up or became prohibitively expensive during the crisis. Broader access to alternative, long-term finance through securitization would limit their exposure to banking sector difficulties and thus help revive credit. The SDN examines the various impediments to the development of a well-functioning and liquid securitization market in Europe and proposes a comprehensive multi-faceted strategy to support its development through regulatory reforms and infrastructure development together with targeted and time-bound official sector support. This would require (i) greater regulatory differentiation between securities of different quality and underlying asset structures; (ii) harmonized national enforcement and insolvency frameworks and standardized reporting requirements; and (iii) greater capacity of EU authorities to support new issuance. These measures would be underpinned by a pan-European definition of high-quality securitization (HQS) comprising simple, transparent and efficient asset structures receiving preferential regulatory treatment.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Small and medium-sized enterprises (SMEs) account for a disproportionate share of output and employment in Europe but are still highly dependent on bank finance, which dried up or became prohibitively expensive during the crisis. Broader access to alternative, long-term finance through securitization would limit their exposure to banking sector difficulties and thus help revive credit. The SDN examines the various impediments to the development of a well-functioning and liquid securitization market in Europe and proposes a comprehensive multi-faceted strategy to support its development through regulatory reforms and infrastructure development together with targeted and time-bound official sector support. This would require (i) greater regulatory differentiation between securities of different quality and underlying asset structures; (ii) harmonized national enforcement and insolvency frameworks and standardized reporting requirements; and (iii) greater capacity of EU authorities to support new issuance. These measures would be underpinned by a pan-European definition of high-quality securitization (HQS) comprising simple, transparent and efficient asset structures receiving preferential regulatory treatment.

More books from INTERNATIONAL MONETARY FUND

Cover of the book Fiscal Policy, Stabilization, and Growth in Developing Countries by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book Reconsidering External Financing of Domestic Budget Deficits: Debunking Some Received Wisdom by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book Financial Integration in Central America: Prospects and Adjustment Needs by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book Finance & Development, March 1995 by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book The Southern African Development Community's Macroeconomic Convergence Program: Initial Performance by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book Finance & Development, March 1992 by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book Institutional Models for Macroprudential Policy by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book Regional Economic Outlook: Europe, October 2008 by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book Closing a Failed Bank: Resolution Practices and Procedures by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book Monetary Union Among Member Countries of the Gulf Cooperation Council by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book Fiscal Multipliers: Size, Determinants, and Use in Macroeconomic Projections by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book The Mystery of Missing Real Spillovers in Southern Africa by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book Growth and Poverty Reduction in Armenia: Achievements and Challenges by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book Fiscal Monitor, November 2010 by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
Cover of the book Economic Adjustment in Low-Income Countries: Experience Under the Enhanced Structural Adjustment Facility by Shekhar Mr. Aiyar, A. Mr. Al-Eyd, Bergljot Ms. Barkbu, Andreas Jobst
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy