A derogatory term for asset-backed securities that emerged in the wake of the subprime crisis around 2009. However, the demonization of this financial derivative in general is completely unjustified. As with other financial instruments, the only thing that can be criticized here is abuse. If – the underlying receivables portfolio is clearly identified, – the risk level can be evaluated, and – the buyers of the securities would perform a careful evaluation, then ABS are a suitable means of spreading risk in the financial market. – See activity shift, on-balance sheet, off-balance sheet, claw-back clause, CLO fund, conduit company, single originator securitization, first loss tranche, liquidation, consolidation, mezzanine tranche, nothing, on-balance sheet, originate-to-distribute strategy, originator, residential mortgage-backed securities, repayment, prepayment, single master liquidity conduit, voting right criterion, support, tacit, securitization, securitization structure.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/
Passende Formel
Bilanzgleichung
Die grundlegende Gleichheit von Mittelverwendung und Mittelherkunft darstellen.
Variablen: Vermögen Aktiva; Eigenkapital und Fremdkapital Passiva.
Anwendung: Als Grundstruktur jeder Bilanz und doppelten Buchführung.