Unlocking SME finance through market-based debt: Securitisation, private placements and bonds
Small and medium-sized enterprises (SMEs) are key contributors to economic growth and job creation. The current economic and financial crisis has reduced bank lending and has affected SMEs in particular. Capital markets will have to play a bigger role in financing SMEs in order to make them more res...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Weitere Verfasser: | |
| Format: | Elektronisch Buchkapitel |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2015
|
| Schlagworte: | |
| Online-Zugang: | DE-384 DE-473 DE-824 DE-29 DE-739 DE-355 DE-20 DE-1028 DE-1049 DE-521 DE-861 DE-898 DE-92 DE-91 DE-573 DE-19 Volltext |
| Zusammenfassung: | Small and medium-sized enterprises (SMEs) are key contributors to economic growth and job creation. The current economic and financial crisis has reduced bank lending and has affected SMEs in particular. Capital markets will have to play a bigger role in financing SMEs in order to make them more resilient to financial shocks. This article reviews the spectrum of alternative market-based debt instruments for SME financing. It focuses on securitisation and covered bonds and also addresses issues regarding small/mid-cap bonds and private placements. It reviews the current state of the market for these instruments and identifies associated risks; analyses the barriers for issuers and investors alike; and provides best practices and high level recommendations to help alleviate barriers without hampering the overall stability of the system. JEL classification: G1, G2, G23, G28 Keywords: SME finance, SME securitisation, non-bank finance, (high-quality) securitisation, asset-backed securities (ABS), SME CLO (collateralised loan obligation), (covered) bonds, private placements, financial regulation, European DataWarehouse, Prime Collateralised Securities (PCS) initiative |
| Beschreibung: | 1 Online-Ressource (102 Seiten) 21 x 28cm |
| DOI: | 10.1787/fmt-2014-5js3bg1g53ln |
Internformat
MARC
| LEADER | 00000nma a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV047939339 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220413s2015 |||| o||u| ||||||eng d | ||
| 024 | 7 | |a 10.1787/fmt-2014-5js3bg1g53ln |2 doi | |
| 035 | |a (ZDB-13-SOC)061277142 | ||
| 035 | |a (DE-599)BVBBV047939339 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-384 |a DE-91 |a DE-473 |a DE-824 |a DE-29 |a DE-739 |a DE-355 |a DE-20 |a DE-1028 |a DE-1049 |a DE-188 |a DE-521 |a DE-861 |a DE-898 |a DE-92 |a DE-573 |a DE-19 | ||
| 100 | 1 | |a Kaousar Nassr, Iota |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Unlocking SME finance through market-based debt |b Securitisation, private placements and bonds |c Iota Kaousar Nassr and Gert Wehinger |
| 264 | 1 | |a Paris |b OECD Publishing |c 2015 | |
| 300 | |a 1 Online-Ressource (102 Seiten) |c 21 x 28cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 520 | |a Small and medium-sized enterprises (SMEs) are key contributors to economic growth and job creation. The current economic and financial crisis has reduced bank lending and has affected SMEs in particular. Capital markets will have to play a bigger role in financing SMEs in order to make them more resilient to financial shocks. This article reviews the spectrum of alternative market-based debt instruments for SME financing. It focuses on securitisation and covered bonds and also addresses issues regarding small/mid-cap bonds and private placements. It reviews the current state of the market for these instruments and identifies associated risks; analyses the barriers for issuers and investors alike; and provides best practices and high level recommendations to help alleviate barriers without hampering the overall stability of the system. JEL classification: G1, G2, G23, G28 Keywords: SME finance, SME securitisation, non-bank finance, (high-quality) securitisation, asset-backed securities (ABS), SME CLO (collateralised loan obligation), (covered) bonds, private placements, financial regulation, European DataWarehouse, Prime Collateralised Securities (PCS) initiative | ||
| 650 | 4 | |a Finance and Investment | |
| 650 | 4 | |a Economics | |
| 700 | 1 | |a Wehinger, Gert |4 ctb | |
| 856 | 4 | 0 | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |x Verlag |z URL des Erstveröffentlichers |3 Volltext |
| 912 | |a ebook | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033320833 | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-384 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-473 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-824 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-29 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-739 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-355 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-20 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-1028 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-1049 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-521 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-861 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-898 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-92 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-91 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-573 |p ZDB-13-SOC |x Verlag |3 Volltext | |
| 966 | e | |u https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |l DE-19 |p ZDB-13-SOC |x Verlag |3 Volltext | |
Datensatz im Suchindex
| _version_ | 1815091529396518912 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Kaousar Nassr, Iota |
| author2 | Wehinger, Gert |
| author2_role | ctb |
| author2_variant | g w gw |
| author_facet | Kaousar Nassr, Iota Wehinger, Gert |
| author_role | aut |
| author_sort | Kaousar Nassr, Iota |
| author_variant | n i k ni nik |
| building | Verbundindex |
| bvnumber | BV047939339 |
| collection | ebook |
| ctrlnum | (ZDB-13-SOC)061277142 (DE-599)BVBBV047939339 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/fmt-2014-5js3bg1g53ln |
| format | Electronic Book Chapter |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nma a2200000zc 4500</leader><controlfield tag="001">BV047939339</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220413s2015 |||| o||u| ||||||eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-13-SOC)061277142</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV047939339</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-1028</subfield><subfield code="a">DE-1049</subfield><subfield code="a">DE-188</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-861</subfield><subfield code="a">DE-898</subfield><subfield code="a">DE-92</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Kaousar Nassr, Iota</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">Unlocking SME finance through market-based debt</subfield><subfield code="b">Securitisation, private placements and bonds</subfield><subfield code="c">Iota Kaousar Nassr and Gert Wehinger</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2015</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (102 Seiten)</subfield><subfield code="c">21 x 28cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">Small and medium-sized enterprises (SMEs) are key contributors to economic growth and job creation. The current economic and financial crisis has reduced bank lending and has affected SMEs in particular. Capital markets will have to play a bigger role in financing SMEs in order to make them more resilient to financial shocks. This article reviews the spectrum of alternative market-based debt instruments for SME financing. It focuses on securitisation and covered bonds and also addresses issues regarding small/mid-cap bonds and private placements. It reviews the current state of the market for these instruments and identifies associated risks; analyses the barriers for issuers and investors alike; and provides best practices and high level recommendations to help alleviate barriers without hampering the overall stability of the system. JEL classification: G1, G2, G23, G28 Keywords: SME finance, SME securitisation, non-bank finance, (high-quality) securitisation, asset-backed securities (ABS), SME CLO (collateralised loan obligation), (covered) bonds, private placements, financial regulation, European DataWarehouse, Prime Collateralised Securities (PCS) initiative</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Finance and Investment</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Wehinger, Gert</subfield><subfield code="4">ctb</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="x">Verlag</subfield><subfield code="z">URL des Erstveröffentlichers</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ebook</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033320833</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-384</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-473</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-824</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-29</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-739</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-355</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-20</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-1028</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-1049</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-521</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-861</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-898</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-92</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-91</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-573</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="966" ind1="e" ind2=" "><subfield code="u">https://doi.org/10.1787/fmt-2014-5js3bg1g53ln</subfield><subfield code="l">DE-19</subfield><subfield code="p">ZDB-13-SOC</subfield><subfield code="x">Verlag</subfield><subfield code="3">Volltext</subfield></datafield></record></collection> |
| id | DE-604.BV047939339 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:35:09Z |
| indexdate | 2024-11-07T19:02:53Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033320833 |
| open_access_boolean | |
| owner | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| owner_facet | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| physical | 1 Online-Ressource (102 Seiten) 21 x 28cm |
| psigel | ebook ZDB-13-SOC |
| publishDate | 2015 |
| publishDateSearch | 2015 |
| publishDateSort | 2015 |
| publisher | OECD Publishing |
| record_format | marc |
| spelling | Kaousar Nassr, Iota Verfasser aut Unlocking SME finance through market-based debt Securitisation, private placements and bonds Iota Kaousar Nassr and Gert Wehinger Paris OECD Publishing 2015 1 Online-Ressource (102 Seiten) 21 x 28cm txt rdacontent c rdamedia cr rdacarrier Small and medium-sized enterprises (SMEs) are key contributors to economic growth and job creation. The current economic and financial crisis has reduced bank lending and has affected SMEs in particular. Capital markets will have to play a bigger role in financing SMEs in order to make them more resilient to financial shocks. This article reviews the spectrum of alternative market-based debt instruments for SME financing. It focuses on securitisation and covered bonds and also addresses issues regarding small/mid-cap bonds and private placements. It reviews the current state of the market for these instruments and identifies associated risks; analyses the barriers for issuers and investors alike; and provides best practices and high level recommendations to help alleviate barriers without hampering the overall stability of the system. JEL classification: G1, G2, G23, G28 Keywords: SME finance, SME securitisation, non-bank finance, (high-quality) securitisation, asset-backed securities (ABS), SME CLO (collateralised loan obligation), (covered) bonds, private placements, financial regulation, European DataWarehouse, Prime Collateralised Securities (PCS) initiative Finance and Investment Economics Wehinger, Gert ctb https://doi.org/10.1787/fmt-2014-5js3bg1g53ln Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Kaousar Nassr, Iota Unlocking SME finance through market-based debt Securitisation, private placements and bonds Finance and Investment Economics |
| title | Unlocking SME finance through market-based debt Securitisation, private placements and bonds |
| title_auth | Unlocking SME finance through market-based debt Securitisation, private placements and bonds |
| title_exact_search | Unlocking SME finance through market-based debt Securitisation, private placements and bonds |
| title_exact_search_txtP | Unlocking SME finance through market-based debt Securitisation, private placements and bonds |
| title_full | Unlocking SME finance through market-based debt Securitisation, private placements and bonds Iota Kaousar Nassr and Gert Wehinger |
| title_fullStr | Unlocking SME finance through market-based debt Securitisation, private placements and bonds Iota Kaousar Nassr and Gert Wehinger |
| title_full_unstemmed | Unlocking SME finance through market-based debt Securitisation, private placements and bonds Iota Kaousar Nassr and Gert Wehinger |
| title_short | Unlocking SME finance through market-based debt |
| title_sort | unlocking sme finance through market based debt securitisation private placements and bonds |
| title_sub | Securitisation, private placements and bonds |
| topic | Finance and Investment Economics |
| topic_facet | Finance and Investment Economics |
| url | https://doi.org/10.1787/fmt-2014-5js3bg1g53ln |
| work_keys_str_mv | AT kaousarnassriota unlockingsmefinancethroughmarketbaseddebtsecuritisationprivateplacementsandbonds AT wehingergert unlockingsmefinancethroughmarketbaseddebtsecuritisationprivateplacementsandbonds |