BibTex RIS Kaynak Göster

COLLATERALIZED DEBT OBLIGATIONS AND ITS EFFECTS ON FINANCIAL CRISIS

Yıl 2014, Cilt: 1 Sayı: 1, 24 - 31, 03.01.2014

Öz

Although there are lots of reasons underlying the financial crisis, asymmetric information, the loss of transparency, financial innovation and securitization shown as the most important reasons of the last financial crisis. The financial crisis that began in U.S.A. in 2008, effected all over the world. It was accepted that wrong understood and valuation of the derivative products had caused the crises. This study has focused on Collateralized Debt Obligation – (CDO) as a cause beside the derivative products. Types, structure and operations of CDOs and the effects on the financial crisis have been mentioned in this study.

Kaynakça

  • Altunbaş, Y., Gambacorta, L. ve Marques, D. 2007. Securitization and The Bank Lending Channel. Working Paper Series - No:838, European Central Bank
  • Ataman, P, 2009. Küresel Kriz ve Ülkeler Tarafından Alınan Önlemler Kronolojisi Bankacılar Dergisi, Sayı 68
  • Bankacılık Düzenleme ve Denetleme Kurumu, 2008. ABD Mortgage Krizi, Çalışma Tebliği
  • McLean, B., Nocera J., 2010. All the Devils Are Here: The Hidden History of the Financial Crisis
  • Chacko, G., Sjöman, A., Motohashi H., Dessain V., 2006. Credit Derivatives A Primer on Credit Risk, Modeling and Instruments
  • Morris R., 2008. The Two Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash
  • Clarke, S. 2002. Kredi Türevleri: Pazarda Büyüme Sürdürülebilecek mi?, Active Dergisi, Sayı1/4
  • Crouhy, M., Turnbull M., 2008. The Subprime Credit Crisis of 07,
  • Das, S. 2000. Credit Derivatives and Credit Linked Notes. 2. Basım, New York: John Wiley & Sons Ltd.
  • Das, S. 2007 . Credit Derivatives – CDOs & Structured Credit Products. 3rd Edition, Wiley Finance.
  • Deloitte Center for Banking Solutions 2008. Risk management in the age of structured products: Lessons learned for improving risk intelligence
  • Doğru, H. 2005. Menkul Kıymetleştirme & Mortgage Genel Hukuki Esaslar, Doğru Hukuk Yayınları
  • Duffie, D. 2007. Innovations in Credit Risk Transfer: Implications for Financial Stability. Research Paper, Stanford University.
  • Financial Crisis Inquiry Commission Report Pursuant to Public Law, 2011 Official Government Edition
  • Frame, W. Scott, White, J. Lawrance, 2004. Competition for Fannie Mae and Freddie Mac?, Regulation Fall
  • Gretchen M., Joshua R.,2011.Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Created the Worst Financial Crisis of Our Time
  • Delikanlı, İ., 2010. Bankacılıkta Kredi Türevlerinin Hissedar Değerine Katkısı, Etkin Bir Şekilde Kullanımına İmkan Sağlayacak Risk Yönetimi Yapılanması ve Finansal Raporlaması yayın no:271
  • Jaffar H., 2007. Pricing and Risk Management of Synthetic CDOs The Journal Of Structured Fınance
  • Anson, F., 2004. Choudhry, M., Credit Derivatives: Instruments, Applications, and Pricing (Frank J. Fabozzi Series)
  • Narayanaswamy, R., 2006. ―An Odyssey in Structured Finance; Is Structured Finance a panacea for the financial markets? Crisil Young Thought Leader
  • Chambers, N. 2007, Türev Piyasalar, Beta Basın Yayım 4.basım
  • Schwarcz, S., 2002. Structured Finance: A Guide to the Principles of Asset Securitization, 3rd Edition, Practising Law Institute, New York, Bl. 1,
  • Schwarcz, S., 2008. Disclosure’s Failure in The Subprime Mortgage Crisis1, Utah Law Review,
  • Strahan, P. 2008. Liquidity Production in 21st Century Banking. Working Paper
  • Vink, D. 2007. ABS, MBS and CDO Compared: An Empirical Analysis, Munich Personal RePEc Archive,
  • Amadeo, K. 2011. CDOs (Collateralized Debt Obligations), http://useconomy.about.com/od/glossary/g/CDOs.htm (Erişim Tarihi 01.02.2014)
  • Kakodkar, A., Galiani S. 2006. Credit Derivatives Handbook, Vol. 1, Merrill Lynch, www.ml.com (Erişim Tarihi:04.02.2014) The Securities Industry and Financial Markets Association (SIFMA) report, 2014. https://www.sifma.org/research/statistics.aspx (Erişim: 10.02.2014)
Yıl 2014, Cilt: 1 Sayı: 1, 24 - 31, 03.01.2014

Öz

Kaynakça

  • Altunbaş, Y., Gambacorta, L. ve Marques, D. 2007. Securitization and The Bank Lending Channel. Working Paper Series - No:838, European Central Bank
  • Ataman, P, 2009. Küresel Kriz ve Ülkeler Tarafından Alınan Önlemler Kronolojisi Bankacılar Dergisi, Sayı 68
  • Bankacılık Düzenleme ve Denetleme Kurumu, 2008. ABD Mortgage Krizi, Çalışma Tebliği
  • McLean, B., Nocera J., 2010. All the Devils Are Here: The Hidden History of the Financial Crisis
  • Chacko, G., Sjöman, A., Motohashi H., Dessain V., 2006. Credit Derivatives A Primer on Credit Risk, Modeling and Instruments
  • Morris R., 2008. The Two Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash
  • Clarke, S. 2002. Kredi Türevleri: Pazarda Büyüme Sürdürülebilecek mi?, Active Dergisi, Sayı1/4
  • Crouhy, M., Turnbull M., 2008. The Subprime Credit Crisis of 07,
  • Das, S. 2000. Credit Derivatives and Credit Linked Notes. 2. Basım, New York: John Wiley & Sons Ltd.
  • Das, S. 2007 . Credit Derivatives – CDOs & Structured Credit Products. 3rd Edition, Wiley Finance.
  • Deloitte Center for Banking Solutions 2008. Risk management in the age of structured products: Lessons learned for improving risk intelligence
  • Doğru, H. 2005. Menkul Kıymetleştirme & Mortgage Genel Hukuki Esaslar, Doğru Hukuk Yayınları
  • Duffie, D. 2007. Innovations in Credit Risk Transfer: Implications for Financial Stability. Research Paper, Stanford University.
  • Financial Crisis Inquiry Commission Report Pursuant to Public Law, 2011 Official Government Edition
  • Frame, W. Scott, White, J. Lawrance, 2004. Competition for Fannie Mae and Freddie Mac?, Regulation Fall
  • Gretchen M., Joshua R.,2011.Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Created the Worst Financial Crisis of Our Time
  • Delikanlı, İ., 2010. Bankacılıkta Kredi Türevlerinin Hissedar Değerine Katkısı, Etkin Bir Şekilde Kullanımına İmkan Sağlayacak Risk Yönetimi Yapılanması ve Finansal Raporlaması yayın no:271
  • Jaffar H., 2007. Pricing and Risk Management of Synthetic CDOs The Journal Of Structured Fınance
  • Anson, F., 2004. Choudhry, M., Credit Derivatives: Instruments, Applications, and Pricing (Frank J. Fabozzi Series)
  • Narayanaswamy, R., 2006. ―An Odyssey in Structured Finance; Is Structured Finance a panacea for the financial markets? Crisil Young Thought Leader
  • Chambers, N. 2007, Türev Piyasalar, Beta Basın Yayım 4.basım
  • Schwarcz, S., 2002. Structured Finance: A Guide to the Principles of Asset Securitization, 3rd Edition, Practising Law Institute, New York, Bl. 1,
  • Schwarcz, S., 2008. Disclosure’s Failure in The Subprime Mortgage Crisis1, Utah Law Review,
  • Strahan, P. 2008. Liquidity Production in 21st Century Banking. Working Paper
  • Vink, D. 2007. ABS, MBS and CDO Compared: An Empirical Analysis, Munich Personal RePEc Archive,
  • Amadeo, K. 2011. CDOs (Collateralized Debt Obligations), http://useconomy.about.com/od/glossary/g/CDOs.htm (Erişim Tarihi 01.02.2014)
  • Kakodkar, A., Galiani S. 2006. Credit Derivatives Handbook, Vol. 1, Merrill Lynch, www.ml.com (Erişim Tarihi:04.02.2014) The Securities Industry and Financial Markets Association (SIFMA) report, 2014. https://www.sifma.org/research/statistics.aspx (Erişim: 10.02.2014)
Toplam 27 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Makaleler
Yazarlar

Işıl Gürbüzer

Yayımlanma Tarihi 3 Ocak 2014
Yayımlandığı Sayı Yıl 2014 Cilt: 1 Sayı: 1

Kaynak Göster

APA Gürbüzer, I. (2014). COLLATERALIZED DEBT OBLIGATIONS AND ITS EFFECTS ON FINANCIAL CRISIS. Journal of Banking and Financial Research, 1(1), 24-31.