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OverviewHolger Markmann studies covered bonds and their market behaviour upon the announcement and implementation of outright covered bond purchases by the eurosystem. After introducing the covered bond market, its reaction to the global financial crisis, and the functionality of unconventional monetary policy to a broad audience, the author analyzes the impact of these purchases. The first Covered Bond Purchase Programme (CBPP1) has lowered covered bond spreads by 3-4 basis points in the short-term, 10 basis points in the medium-term, and increased emission volumes by € 103 billion. CBPP2 and CBPP3 have not led to similar effects. However, the programs’ effectiveness relies on the market’s expectations and its prevalent health. About the Author Holger Markmann is PostDoc at the Real Estate Management Institute (REMI) of EBS Universität für Wirtschaft und Recht and Managing Director of a real estate investment firm. His research focuses on real estate capital market financing, bank funding, and unconventional monetary policy. Prior to his current roles, he worked for a bulge bracket investment bank, advising financial institutions on their M&A- and capital market activities. Full Product DetailsAuthor: Holger MarkmannPublisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Imprint: Springer Gabler Edition: Softcover reprint of the original 1st ed. 2018 Volume: 14 Weight: 0.454kg ISBN: 9783658215224ISBN 10: 3658215224 Pages: 120 Publication Date: 04 June 2019 Audience: Professional and scholarly , Professional & Vocational Format: Paperback Publisher's Status: Active Availability: Manufactured on demand  We will order this item for you from a manufactured on demand supplier. Table of ContentsIntroduction to Covered Bonds and Unconventional Monetary Policy.- Impact on Covered Bond Emission Activity.- Medium- and Short-term Announcement Effects.- Monetary Policy Implications.ReviewsAuthor InformationHolger Markmann is PostDoc at the Real Estate Management Institute (REMI) of EBS Universität für Wirtschaft und Recht and Managing Director of a real estate investment firm. His research focuses on real estate capital market financing, bank funding, and unconventional monetary policy. Prior to his current roles, he worked for a bulge bracket investment bank, advising financial institutions on their M&A- and capital market activities. Tab Content 6Author Website:Countries AvailableAll regions |
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