Covered bonds under unconventional monetary policy / Holger Markmann ; with a foreword by Professor Dr. Nico B. Rottke and Professor Jan Mutl.
2018
HG5429
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Title
Covered bonds under unconventional monetary policy / Holger Markmann ; with a foreword by Professor Dr. Nico B. Rottke and Professor Jan Mutl.
Author
Markmann, Holger, author.
ISBN
9783658209759 (electronic book)
3658209755 (electronic book)
9783658209742
3658209747
3658209755 (electronic book)
9783658209742
3658209747
Published
Wiesbaden, Germany : Springer Gabler, [2018]
Copyright
©2018
Language
English
Description
1 online resource.
Call Number
HG5429
Dewey Decimal Classification
332.63/2044/094
Summary
Holger Markmann studies covered bonds and their market behaviour upon the announcement and implementation of outright covered bond purchases by the eurosystem. After introducing the covered bond market, its reaction to the global financial crisis, and the functionality of unconventional monetary policy to a broad audience, the author analyzes the impact of these purchases. The first Covered Bond Purchase Programme (CBPP1) has lowered covered bond spreads by 3-4 basis points in the short-term, 10 basis points in the medium-term, and increased emission volumes by e 103 billion. CBPP2 and CBPP3 have not led to similar effects. However, the programs' effectiveness relies on the market's expectations and its prevalent health.About the Author Holger Markmann is PostDoc at the Real Estate Management Institute (REMI) of EBS Universität für Wirtschaft und Recht and Managing Director of a real estate investment firm. His research focuses on real estate capital market financing, bank funding, and unconventional monetary policy. Prior to his current roles, he worked for a bulge bracket investment bank, advising financial institutions on their M&A- and capital market activities.
Note
Holger Markmann studies covered bonds and their market behaviour upon the announcement and implementation of outright covered bond purchases by the eurosystem. After introducing the covered bond market, its reaction to the global financial crisis, and the functionality of unconventional monetary policy to a broad audience, the author analyzes the impact of these purchases. The first Covered Bond Purchase Programme (CBPP1) has lowered covered bond spreads by 3-4 basis points in the short-term, 10 basis points in the medium-term, and increased emission volumes by e 103 billion. CBPP2 and CBPP3 have not led to similar effects. However, the programs' effectiveness relies on the market's expectations and its prevalent health.About the Author Holger Markmann is PostDoc at the Real Estate Management Institute (REMI) of EBS Universität für Wirtschaft und Recht and Managing Director of a real estate investment firm. His research focuses on real estate capital market financing, bank funding, and unconventional monetary policy. Prior to his current roles, he worked for a bulge bracket investment bank, advising financial institutions on their M&A- and capital market activities.
Bibliography, etc. Note
Includes bibliographical references.
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Access limited to authorized users.
Source of Description
Vendor-supplied metadata.
Series
Essays in real estate research ; Bd. 14.
Available in Other Form
Print version: 9783658209742
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