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苏·Xu · 2024年12月19日

ABS

NO.PZ2023052301000082

问题如下:

For an issuer, which of the following outcomes is most likely afteroffering a credit card ABS?

选项:

A.

Increased cost of funding

B.

Increased income from fees

C.

Increased cost of default risk

解释:

The correct answer is B. A credit card ABS generates additional fee income.

A is incorrect because by removing the credit card debt from the balance sheet, ABS issuance improves capital efficiency and lowers the cost of funding.

C is incorrect as the ABS also reduces the cost of default risk from credit card debt.

增加违约风险不算是outcome吗

1 个答案

笛子_品职助教 · 2024年12月20日

嗨,爱思考的PZer你好:


增加违约风险不算是outcome吗

Hello,亲爱的同学~

同学理解正确。

增加违约风险不算outcome。

降低违约风险才是outcome。


因为通过资产证券化,违约风险实际上转移到了购买这些ABS的投资者身上,银行自身的违约风险反而降低了。

因此C不对,因为ABS降低了信用卡债务的违约风险成本(而不是增加)。

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