Manna, Armando (A.A. 2020/2021) NPLs securitizations: from a threat to financial stability to an opportunity for deleveraging for the banking system. Tesi di Laurea in Advanced corporate finance, Luiss Guido Carli, relatore Andrea Polo, pp. 54. [Master's Degree Thesis]

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Abstract/Index

Contextualization of NPLs market over time and state intervention. NPLs securitization main features. A look to the 2008 crisis: responsibilities of banks and other players. Regulatory approach: Basel III regulatory framework, CRR, SRT regulations and STS securitizations. NPL valuation: from IAS 39 to IFRS 9. Banks’ cost of equity determinants and how NPLs deal with them in terms of RWA. NPL market today and focus on Italian guaranteed state scheme. NPL market today and IFRS 9. Guarantee scheme of Italian government: the GACS. Players of a securitization deal with guarantee scheme. Discussion and empirical evidence regarding the relevant features of securitization deals with guarantee scheme. Applied models on the convenience of NPLs securitization with guarantee scheme. Evidence and features of the securitization deals. NPL securitization with GACS as a tool to enhance financing. NPL securitization with GACS as a tool for deleveraging and lowering the weighted average cost of the capital structure.

References

Bibliografia: pp. 53-54.

Thesis Type:	Master's Degree Thesis
Institution:	Luiss Guido Carli
Degree Program:	Master's Degree Programs > Master's Degree Program in Economics and Finance (LM-56)
Chair:	Advanced corporate finance
Thesis Supervisor:	Polo, Andrea
Thesis Co-Supervisor:	Massi Benedetti, Saverio
Academic Year:	2020/2021
Session:	Autumn
Deposited by:	Alessandro Perfetti
Date Deposited:	23 Mar 2022 16:13
Last Modified:	23 Mar 2022 16:13
URI:	https://tesi.luiss.it/id/eprint/31817

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