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Classification of securitization entities and their role in the transaction. The economic benefits of securitization for the parties to the transaction

Kiseleva Marina Sergeevna  (Graduate student, National Research University Higher School of Economics)

As part of the article was the classification of participants in the securitization and identify their roles and motives of participation in the transaction. The author divides the parties involved in the direct (the originator, the seller of receivables, the issuer (SPV) and the investor) and indirect (rating agencies, servicer, provider of credit and liquidity support, etc). Also investigated the economic benefits of securitization for the participants. Thus, an investor purchasing securities secured by means reliability and low risk. For the issuing company - commission fee for the service. The greatest attention is paid to the definition of the benefits of securitization of factoring companies, as the recipient of funding, including reducing the cost of borrowed resources (primary parameter); diversification of funding sources; additional, flexible source of financing, improving liquidity, efficient risk sharing, limiting the credit risk by risk assets; improvement in the balance, the balancing of assets and liabilities, expanding the business.

Keywords:securitization, factoring, originator, factor, investor, issue, economic benefits.
 

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Citation link:
Kiseleva M. S. Classification of securitization entities and their role in the transaction. The economic benefits of securitization for the parties to the transaction // Современная наука: актуальные проблемы теории и практики. Серия: ЭКОНОМИКА и ПРАВО. -2012. -№02. -С. 17-22
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