search query: @author Lefebvre, O. / total: 4
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| Author: | Lefebvre, O. |
| Title: | Securitisation et intermediation financiere. |
| Journal: | Gestion 2000
1989 : APR-MAY, VOL. 5:2, p. 161-169 |
| Index terms: | SECURITIES FINANCIAL INTERMEDIARIES LOANS |
| Language: | fre |
| Abstract: | Depositary financial intermediaries have to face two challenges: competition will increase due to the removal of geographic and sectorial restrictions, and specific demand for intermediation will decline. The flow of funds takes increasingly the form of exchangeable securities because borrowers tap directly the market (commercial papers and so on) instead of asking for bank loans, and banks resell pools of loans as asset backed securities. In most cases, it implies for banks a decline in their intermediation margins, an increase in the average credit risk, new opportunities for asset and liability management. Banks should avoid increased risk to maintain their margins. |
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