Bespoke Tranche Opportunities: the new era of securitization
DOI:
https://doi.org/10.13133/2611-6634/1596Keywords:
Collateralized Debt Obligations, Bespoke Tranche Opportunities, Credit Default Swaps, securitization, sub-prime mortgage crisisAbstract
This paper reviews the structure of Collateralized Debt Obligations (CDOs), finan cial products used in the period of the 2008 sub-prime mortgage crisis, in order to understand the reasons that lead them to be considered the main responsible for it. The legacy of CDOs, which is reflected in Bespoke Tranche Opportunities (BTOs), is then discussed in order to understand whether they are equally ”toxic” products, as CDOs were defined after the outbreak of the crisis, or they are really innovative tool of securitization.
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Copyright (c) 2024 Maria Giuseppina Bruno, Luca Semerari, Maria Rita Scarpitti
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