Skip navigation
Vista previa
Ver
437,88 kB

Compartir:

Registro completo de metadatos
Campo DC Valor
dc.contributor.authorGonzález Pedraz, Carlos
dc.coverage.spatialEspaña
dc.date.accessioned2020-03-24T07:43:48Z
dc.date.available2020-03-24T07:43:48Z
dc.date.issued2019-10-10
dc.identifier.urihttps://repositorio.bde.es/handle/123456789/10797
dc.descriptionArtículo de revista
dc.description.abstractOver the past decade, the volume of leveraged loans has grown to reach its highest level since the end of the crisis. Growth has been more contained in Spain, which accounted for 5% of the total volume of such lending in Europe in the period 2016-2018. The terms and conditions of leveraged loans have become less restrictive and a large proportion is distributed among institutional investors worldwide, in the form of collateralised loan obligations (CLOs).This originate-to-distribute model poses potential risks for the financial system. In the event of a cyclical downturn the losses in this market could be significant, in particular, owing to the relaxation of investor protections. In addition, given the importance of these loans as a source of corporate financing, a rise in defaults would have adverse effects on the real economy.
dc.format.extent11 p.
dc.language.isoen
dc.publisherBanco de España
dc.relation.ispartofEconomic Bulletin / Banco de España, 4/2019
dc.relation.hasversionVersión en español 123456789/10121
dc.rightsReconocimiento-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0)
dc.rightsIn Copyright - Non Commercial Use Permitted
dc.rights.urihttps://creativecommons.org/licenses/by-nc-sa/4.0/deed.es_ES
dc.rights.urihttp://rightsstatements.org/vocab/InC-NC/1.0/
dc.subjectLeveraged loans
dc.subjectCLO
dc.subjectSyndicated loans
dc.subjectEconomy of the European Union
dc.subjectInternational economy
dc.subjectFinancial analysis
dc.titleLeveraged loans: definition and market development
dc.typeArtículo
dc.identifier.bdebib000469036
dc.identifier.bdepubECBU-2019-4B-art29
dc.subject.bdeCréditos
dc.subject.bdeFinanciación de la empresa
dc.publisher.bdeMadrid : Banco de España, 2019
dc.subject.jelG23
dc.subject.jelG15
dc.subject.jelG32
Aparece en las colecciones:


loading