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李晨昱 · 2024年06月29日

选项1是什么意思

NO.PZ2023052301000080

问题如下:

Consider the following potential reasons to explain why covered bonds usually carry lower credit risks and offer lower yields than otherwise similar ABS:

1. Eligibility criteria

2. Dynamic cover pool

3. Redemption regime in event of sponsor default

Which of the following factors accurately explain(s) this result?

选项:

A.

Reason 1 only

B.

Reasons 1 and 2 only

C.

Reasons 1, 2, and 3

解释:

The correct answer is C. All three of the listed reasons explain this comparative result, which has made covered bonds a relatively stable and reliable source of funding over time.

选项1是什么意思 对应基础班讲义的哪里

1 个答案

吴昊_品职助教 · 2024年06月30日

嗨,努力学习的PZer你好:


题目问的是:下列哪些原因可以解释covered bonds风险更低、收益更低?双重追索权、严格的合格标准(能放在cover pool中的资产类型有着非常严格的合格标准,比如:贷款满足一定的LTV,才能放到抵押品的池子中)、动态的cover pool以及赎回机制,这四大类特性,都导致covered bond相比ABS有着更低的风险和收益率。

参考基础班讲义P376页。

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