Διαδικασίες τιτλοποίησης (securitization) απαιτήσεων (δανείων) στην Ευρώπη:τι μέλλον έχουν στην ελληνική αγορά

Abstract

This dissertation was written in order to examine a very important financial instrument: Securitization. Basic purpose of this dissertation is to analyze the procedures of securitization and to judge the future of this instrument in Greece. It is comprised to five chapters. The 1st Chapter refers to securitization in general, from the basic meaning, to the purpose and the necessity of this financial tool to the economic world. Chapter 2 refers to securitization of receivables. It is also mentioned to the major forms of securitization basically in U.S.A that is the first country in the world who used this instrument. Chapter 3 contests a brief reference to securitization in Europe with analytical statistics by type of collateral. This chapter also contains references to European countries (U.K, Germany, Spain) in which securitization has extensively developed. Chapter 4 refers to the future of securitization here in Greece. It is also contains an example of securitization by the Kotsovolos S.A through Alpha Bank. In Chapter 5 we discuss about the Bank of International Settlements (BIS) and how it can affect securitization. We also discuss about the risks and mainly, the benefits of securitization to FIs, to corporate to governments and to investors. At the end of this dissertation we mention the major problems which might be occurred to Greek FIs by the usage of securitization.