TOXICKÉ PRODUKTY A SEKURITIZÁCIA
TOXIC PRODUCTS AND SECURITIZATION

Author(s): Blanka Kameníková, Eva Cipovová
Subject(s): Supranational / Global Economy, Financial Markets
Published by: Masarykova univerzita nakladatelství
Keywords: toxic assets; rating of underlying pools; systematic risk; credit rating; structured notes; CDO; securitization;
Summary/Abstract: This paper investigates securitization, which is the most discusses topic 21st century, because of causing a collapse in global capital markets and later world economy. Unfortunately, securitization is regarded as a one of the major causes of the financial crisis that began in the U.S. mortgage crisis, but the question is, if it was the primary cause. It can be concluded thatthe process of securitization wasn’t the reason of the financial crisis, but the actual input into the process. When you securitized assets at the beginning of the process, which have no credit standing, then the process can give you results, which will be no better than on the beginning.

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