Covered Bonds under Unconventional Monetary Policy (Essays in Real Estate Research, 14)
Language: English
Published by Springer Gabler, 2018
- First Edition
- Hardcover
- Used
Seller: killarneybooks, Inagh, Clare, Irelandkillarneybooks
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Hardcover, xviii + 120 pages, NOT ex-library. Book is clean and bright throughout with unmarked text, free of inscriptions and stamps, firmly bound. Minor handling wear. Issued without a dust jacket. -- This work provides a detailed empirical analysis of the impact of the European Central Bank's unconventional monetary policy on the Euro area's covered bond market. It focuses specifically on the effects of the ECB's Covered Bond Purchase Programmes (CBPPs), a key component of its post-financial crisis asset purchase strategy. The author investigates both primary and secondary market effects, analyzing changes in issuance spreads, market liquidity, and the overall functioning of this crucial segment. The study provides quantitative evidence on how large-scale central bank interventions have influenced a financial instrument that is fundamental to real estate financing in Europe.
Seller Inventory # 011558
- Title
- Covered Bonds under Unconventional Monetary Policy (Essays in Real Estate Research, 14)
- Author
- Holger Markmann
- Publisher
- Springer Gabler
- Publication year
- 2018
- Condition
- Very Good
- Binding
- Hardcover
- Language
- English
- ISBN 10
- 3658209747
- ISBN 13
- 9783658209742
- Edition
- 1st Edition
- Series
- Book 7 of 10: Essays in Real Estate Research
Holger Markmann studies covered bonds and their market behaviour upon the announcement and implementation of outright covered bond purchases by the eurosystem. After introducing the covered bond market, its reaction to the global financial crisis, and the functionality of unconventional monetary policy to a broad audience, the author analyzes the impact of these purchases. The first Covered Bond Purchase Programme (CBPP1) has lowered covered bond spreads by 3-4 basis points in the short-term, 10 basis points in the medium-term, and increased emission volumes by € 103 billion. CBPP2 and CBPP3 have not led to similar effects. However, the programs’ effectiveness relies on the market’s expectations and its prevalent health.
About the Author
Holger Markmann is PostDoc at the Real Estate Management Institute (REMI) of EBS Universität für Wirtschaft und Recht and Managing Director of a real estate investment firm. His research focuses on real estate capital market financing, bank funding, and unconventional monetary policy. Prior to his current roles, he worked for a bulge bracket investment bank, advising financial institutions on their M&A- and capital market activities.
"Synopsis" may belong to another edition of this title.
About the Author
Holger Markmann is PostDoc at the Real Estate Management Institute (REMI) of EBS Universität für Wirtschaft und Recht and Managing Director of a real estate investment firm. His research focuses on real estate capital market financing, bank funding, and unconventional monetary policy. Prior to his current roles, he worked for a bulge bracket investment bank, advising financial institutions on their M&A- and capital market activities.
"About the title" may belong to another edition of this title.
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