Securitisation, loan growth and bank funding: the Swiss experience since 1932

December 21, 2016
Issue 2016-18


This paper empirically analyses securitisation in Switzerland from a macroeconomic and bank balance sheet perspective based on a novel and near-comprehensive data set on a specific form of securitisation over the sample period from 1932 to 2014. The Swiss Pfandbrief is a distinct covered bond with a similar institutional framework as the U.S. Federal Home Loan Bank System.

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JEL classification:
E43, E44, E51, G12, G21, G23, N24
Securitisation, covered bonds, mortgage loans, bank balance sheet management, business cycles, financial cycle, financial stability

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