Download Asset-Backed Securities: Ein Produkt fur deutsche Banken by Niklas Bartelt PDF

By Niklas Bartelt

Nach dem großen Erfolg in den united states gewinnen die Asset-Backed Securities auch in Deutschland immer mehr an Bedeutung. Niklas Bartelt stellt dar, warum und unter welchen Bedingungen Asset-Backed Securities konkurrierenden Finanzierungsformen überlegen sind. Anhand der aufgezeigten Effizienzkriterien leitet der Autor einen Strategieprozess für Banken, die Asset-Backed Securities anbieten möchten, ab und entwickelt eine Vorgehensweise zur Strukturierung und Absicherung dieser Finanzierungsform. Auf der Grundlage einer in den united states durchgeführten empirischen Untersuchung gibt Niklas Bartelt Handlungsempfehlungen zur Umsetzung in Banken und Unternehmen.

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13 Originators abhangig und der off-balance-sheet-Charakter der Finanzierung zerstOrt. 50 Zudem ist in der Beziehung zwischen Originator und Spy die Frage der Konkurssicherheit des SPY zu diskutieren. Der echte Forderungsverkauf verlangt nach deutschem Recht eine Zession (§ 398 ff. BGB). Diese 'setzt voraus, daB die Forderungen bestimmbar und iibertragbar sind. AuBerdem muB der Abtretungsvertrag rechtswirksam zustandegekommen sein. Auch ist zu priifen, welche Rechtsfolgen bei Anfechtung der Zession, bei fehlerhaften Forderungen, bei Ubersicherung, bei Aberkennung der Eigenschaft des wirtschaftlich echten Verkaufs oder bei Zahlung an den Zedenten drohen und wie diese Gefahren abzuwenden sind.

Funding, S. 379; Greenbaum, Stuart I. , Intermediation, S. 405 - 413. Quelle: Eigene Darstellung, fiir die Kreditfinanzierung vgl. Thakor, Anjan V. Credit, S. 1073 - 1074. Vgl. Ocampo, Juan M. , Credit, S. , asset, S. 34; und vergleichbar auch Paul, Stephan, Bankintermediation, S. 232. Allen I Santomero machen die Spezialisierungsvorteile und Fixkostendegression bei der Risikoallokation I -management sogar zum Kernstiick ihrer neuen Intermediationtheorie. Vgl. , Intermediation, S. 18 - 24. 27 Intermediationsprozesses ist.

400 BGB. Vgl. § 411 BGB. Vgl. Pal ache. Robert I Bell. Ian. Legal. S. 104 - 105. Vgl. § 406 BGB. Vgl. Stoppok. Gerhard, Vertrag. S. 105. Schadenersatzanspruch aus ungerechtfertigter Bereicherung (§ 812 BGB). vgl. Reifferscheid. Adolf I Bockel. Eberhard I Benseler. Frank, Recht, S. II; Stoppok. Gerhard. Vertrag. S. 103 - 104. 106. Dabei ergibt sich aber das Risiko, daB der Originator in der Zwischenzeit insolvent geworden is!. Vgl. Mayer. Hans-Volker. Factoring. S. 322. Ein Treuhandkonto ist nicht konkursfest.

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