Yapılandırılmış Finans ve Küresel Finansal Kriz (Structured Finance and Global Financial Crisis)

Finans Politik & Ekonomik Yorumlar Dergisi, Vol. 47, pp. 71-80, 2010

10 Pages Posted: 28 Dec 2010 Last revised: 26 Aug 2012

See all articles by Yener Coskun

Yener Coskun

Capital Markets Board of Turkey

Date Written: July 1, 2010

Abstract

After emerging from the U.S. housing, finance and eventually real sectors, financial crisis has gradually become global. Although problems of structured finance are not new, primary and secondary mortgage market problems in U.S. are essential reasons of the current crisis. In this context, structured finance products/transactions, based on extremely optimistic expectations, light regulation and supervision framework and weak valuation and reporting structure, are of particular place in the process of crisis. In this paper, the author argues that global finance industry needs better regulatory framework for structured finance products. But, despite valuation, accounting, reporting, risk management and systemic risk problems, structured products offer important contributions to increase market liquidity and flexibility. Therefore, over-regulation to structured products would be a mistake for market efficiency. Because Turkish financial markets has faced limited problems related to structured products during crisis period, author considers structured products need no for further regulation in domestic market.

Note: Downloadable document is in Turkish.

Keywords: Global Financial Crisis, Structured Finance, Mortgage, Special Purpose

Suggested Citation

Coskun, Yener, Yapılandırılmış Finans ve Küresel Finansal Kriz (Structured Finance and Global Financial Crisis) (July 1, 2010). Finans Politik & Ekonomik Yorumlar Dergisi, Vol. 47, pp. 71-80, 2010, Available at SSRN: https://ssrn.com/abstract=1731924

Yener Coskun (Contact Author)

Capital Markets Board of Turkey ( email )

Eskisehir Yolu 8. km No:156
Ankara, 06530
Turkey

HOME PAGE: http://ankara.academia.edu/yenercoskun

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