我知道C对，但是A为啥不对呢

NO.PZ2016082405000091

问题如下：

A major benefit of securitization for a financial institution is the ability to remove assets from the balance sheet, which lowers risk and the required regulatory capital. While a large portion of the risk is removed from the balance sheet the originating financial institution often maintains a portion of the risk. -Which of the following terms best identify the risk that is maintained by the originator?

选项：

Correlation.

Excess spread.

First-loss piece.

Guarantor of collateral value.

解释：

C The originator often maintains ownership of the first-loss piece, which is the class of assets with the lowest credit quality and is the most junior level where losses are first absorbed in the event of a default.

因为感觉ρ和系统性风险有关，如果ρ出问题，也会导致发行人破产吧？

添加评论

1 个答案

品职答疑小助手雍 · 2021年03月14日

嗨，爱思考的PZer你好：

这里的ρ指的也不一定是系统性风险beta里那个ρ，我读起来更像是和留在金融机构BS上的那些资产的相关性。

不过要考察题目本质的话，还是关于风险究竟有没有转移的问题，既然说的是风险转移，而C选项作为equity那层的承担者意味着风险没有转移的话，就对应了题目问句里maintain这个词。而且题目里还有个best，所以作为第一个承担损失的层级才是风险maintain的最惨的，ρ这个概念一是不符合风险转移里的转移这个词，二是就算是它也算风险也不是best的选项。

----------------------------------------------
努力的时光都是限量版，加油！

添加评论

1
回答
0
关注
481
浏览

我要回答关注问题

相关问题

NO.PZ2016082405000091 Excess sprea First-loss piece. Guarantor of collatervalue. C The originator often maintains ownership of the first-loss piece, whiis the class of assets with the lowest cret quality anis the most junior level where losses are first absorbein the event of a fault. 请问这个题是什么意思呢？

2021-03-25 20:20 1 · 回答

A major benefit of securitization for a financiinstitution is the ability to remove assets from the balansheet, whilowers risk anthe requireregulatory capital. While a large portion of the risk is removefrom the balansheet the originating financiinstitution often maintains a portion of the risk. -Whiof the following terms best intify the risk this maintainethe originator? Correlation. Excess sprea First-loss piece. Guarantor of collatervalue. C The originator often maintains ownership of the first-loss piece, whiis the class of assets with the lowest cret quality anis the most junior level where losses are first absorbein the event of a fault. 请问这个对应哪个知识点？未在讲义中找到相关

2020-10-08 11:40 1 · 回答

A major benefit of securitization for a financiinstitution is the ability to remove assets from the balansheet, whilowers risk anthe requireregulatory capital. While a large portion of the risk is removefrom the balansheet the originating financiinstitution often maintains a portion of the risk. -Whiof the following terms best intify the risk this maintainethe originator? Correlation. Excess sprea First-loss piece. Guarantor of collatervalue. C The originator often maintains ownership of the first-loss piece, whiis the class of assets with the lowest cret quality anis the most junior level where losses are first absorbein the event of a fault. 麻烦问下我理解的哪里不对银行的风险资产被打包成了资产证券化产品卖给了投资人，银行只收取了利差，当贷款人（资产证券化标的资产）违约时，投资者承担风险，银行不承担，所以这部分资产才得以出表。银行也就是originator为什么会承担equity的风险呀？

2020-02-27 23:24 1 · 回答

看不太明白，求一下

2018-05-15 21:49 1 · 回答

我知道C对，但是A为啥不对呢

1 个答案

1

0

481

相关问题