Public Policy Issues Raised by Bank Securities Activities

In this Article, the Securities Industry Association presents its perspectives on various legislative proposals currently being considered to redefine the role of commercial banks in the securities field. The author presents a history of the congressional policy that has defined permissible activities of commercial banks, and an overview of the securities activities of banks. The author then presents an examination of the various policy issues raised by bank participation in securities activities. The author concludes in calling for a reexamination of the Glass-Steagall Act and recommending that such a reexamination should proceed in the context of a comprehensive review of the laws and regulations bearing on the structure of financial institutions

Bank Securities Activities: Memorandum for Study and Discussion

A strong and vital United States Banking system is essential to the economic well being of this nation and, indeed, the economic stability of the world. Banks play a central role in international trade and finance and domestically provide the credit essential to the smooth flow of commerce. The importance of the role of banks in this country is underscored by the unique legal and regulatory framework in which they function. Because of this unique position, it is no small wonder that the American people have repeatedly demonstrated their determination to have a sound system of banking

U.S. Securitization Year in Review

Securitization Research Report 201

Enhancing Loan Quality Through Transparency: Evidence from the European Central Bank Loan Level Reporting Initiative

We explore whether transparency in banks’ securitization activities enhances loan quality. We take advantage of a novel disclosure initiative introduced by the European Central Bank, which requires, as of January 2013, banks that use their asset-backed securities as collateral for repo financing to report securitized loan characteristics and performance in a standardized format. We find that securitized loans originated under the transparency regime are of better quality with a lower default probability, a lower delinquent amount, fewer days in delinquency and lower losses upon default. Additionally, banks with more intensive loan level information collection and those operating under stronger market discipline experience greater improvement in their loan quality under the new reporting standards. Overall, we demonstrate that greater transparency has real effects by incentivizing banks to improve their credit practices

Comment Letters to proposed statement on standards for attestation engagements : Management\u27s discussion and analysis

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