Series: IMF Working Papers
Author(s): Jay Surti
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 December 2010
Keywords: Covered bonds, mortgage-backed securities, personal bankruptcy, bond, bonds, mortgage, bond holders, mortgage loans, General Financial Markets: Government Policy and Regulation, Other Substantive Areas of Law: Other
This paper considers the case for mortgage covered bonds as an alternative to the originate-to-distribute mortgage funding model. It argues that the economic incentives provided to market participants under the cov...