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Propuesta de valuación para Bonos Garantizados (el caso de México)

Author

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  • Laura Vargas Gahbler

    (FOVISSSTE)

Abstract

There are financial institutions in Mexico with liquidity constraints that prevent them from increasing the number of loans granted. In general they have used mortgage backed securities (MBS) to address their liquidity needs. However, it is desirable to explore other mechanisms such as the issuance of covered bonds, which have been used successfully in other countries. Unlike MBS, covered bonds do not transfer credit risk; this would allow institutions to obtain funds at a lower cost. The aim of this paper is to propose a way to value these instruments, if they are issued in the Mexican market, using the Hull and White model

Suggested Citation

  • Laura Vargas Gahbler, 2013. "Propuesta de valuación para Bonos Garantizados (el caso de México)," Revista de Administración, Finanzas y Economía (Journal of Management, Finance and Economics), Tecnológico de Monterrey, Campus Ciudad de México, vol. 7(2), pages 1-21.
    • Handle: RePEc:ega:rafega:201306
    as

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    File URL: http://alejandria.ccm.itesm.mx/egap/documentos/2013V7A6Vargas.pdf
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    More about this item

    Keywords

    Financial Institutions and Services; Mortgages; Financial Instruments;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

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