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The impact of securitization, bank l...

Egly, Peter Victor.

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The impact of securitization, bank liquidity shocks, and government intervention on lending and banks' asset composition: Evidence from the U.S. 2007-2009 financial crisis.

Record Type:	Electronic resources : Monograph/item
Title/Author:	The impact of securitization, bank liquidity shocks, and government intervention on lending and banks' asset composition: Evidence from the U.S. 2007-2009 financial crisis./
Author:	Egly, Peter Victor.
Description:	185 p.
Notes:	Source: Dissertation Abstracts International, Volume: 75-05(E), Section: A.
Contained By:	Dissertation Abstracts International75-05A(E).
Subject:	Banking. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3611347
ISBN:	9781303719875

The impact of securitization, bank liquidity shocks, and government intervention on lending and banks' asset composition: Evidence from the U.S. 2007-2009 financial crisis.
Egly, Peter Victor.

The impact of securitization, bank liquidity shocks, and government intervention on lending and banks' asset composition: Evidence from the U.S. 2007-2009 financial crisis. - 185 p.

Source: Dissertation Abstracts International, Volume: 75-05(E), Section: A.

Thesis (Ph.D.)--The University of Texas - Pan American, 2013.

The 2007- 2009 financial crises creates a new wave of research opportunities in part due to the transformation of the banking system that led to the development of securitized banking that is supported by short term funding sources provided through the money and capital markets. The near collapse of the financial system ultimately led to the ensuing government intervention by the Federal Reserve and the U.S. Treasury department to revive the frail U.S. economy. This dissertation has two basic research objectives:1) investigate the impact of securitization on bank lending during the crisis and assess the impact of the subprime mortgage collapse on bank lending, and 2) to examine whether there are changes in banks balance sheet composition that are associated with government whose objective is to stabilize the financial system.

ISBN: 9781303719875Subjects--Topical Terms:

1557594
Banking.

The impact of securitization, bank liquidity shocks, and government intervention on lending and banks' asset composition: Evidence from the U.S. 2007-2009 financial crisis.
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245 1 4 $a The impact of securitization, bank liquidity shocks, and government intervention on lending and banks' asset composition: Evidence from the U.S. 2007-2009 financial crisis.
300 $a 185 p.
500 $a Source: Dissertation Abstracts International, Volume: 75-05(E), Section: A.
500 $a Adviser: Andre V. Mollick.
502 $a Thesis (Ph.D.)--The University of Texas - Pan American, 2013.
520 $a The 2007- 2009 financial crises creates a new wave of research opportunities in part due to the transformation of the banking system that led to the development of securitized banking that is supported by short term funding sources provided through the money and capital markets. The near collapse of the financial system ultimately led to the ensuing government intervention by the Federal Reserve and the U.S. Treasury department to revive the frail U.S. economy. This dissertation has two basic research objectives:1) investigate the impact of securitization on bank lending during the crisis and assess the impact of the subprime mortgage collapse on bank lending, and 2) to examine whether there are changes in banks balance sheet composition that are associated with government whose objective is to stabilize the financial system.
520 $a Results suggest that traditional bank costs of funding play a diminished role in the supply of bank lending in the larger bank samples (large banks and money center banks) and yet there is a positive impact of the repurchase agreement (REPO) market rates on bank lending that is pervasive in the smaller bank samples (small and medium) suggesting that increases in Repo rates fosters lending during the crisis period. Real estate lending exposure negatively affects bank lending in the small and medium bank samples. The evidence suggests that the Federal Reserves initial round of quantitative easing served as an important channel through which banks were able to attain liquidity objectives during the crisis. The results suggest that small and money center banks with greater loan portfolio exposures choose to build liquidity in response to a rise in Repo rates compared to banks with lower lending exposures. Finally, the balance sheet composition for banks in general has shifted towards more liquid based banks in the post crisis period and residential real estate portfolios has reverted back to pre-crisis levels for money center banks and has remained mostly consistent throughout the sample period for all other banks with a modest rise noted in the post crisis period for large banks.
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