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Il mercato primario delle obbligazioni bancarie strutturate. Alcune considerazioni sui profili di trasparenza e correttezza del comportamento degli intermediari

Listed author(s):
  • Giuseppe D’Agostino

    (CONSOB, Milano)

  • Marcello Minenna

    (CONSOB, Milano)

Registered author(s):

    The study analyses the Italian market structure of banks’structured debt securities. This financial segment has experienced a tremendous growth in the last five years as to overcome the size of ordinary banking bonds. The research examines the complexity of structured bonds evaluation for non-sophisticated investors. Quality of information spread is such that investors are capable to appreciate definite bond component performance, but they have trouble in assessing the derivative component one. Banks have a complete informational set to value the two components that enables them to set an issuing price higher than the market theoretical value and to get net profits without risks.

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    Article provided by SIPI Spa in its journal Rivista di Politica Economica.

    Volume (Year): 91 (2001)
    Issue (Month): 7 (September)
    Pages: 51-94

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    Handle: RePEc:rpo:ripoec:v:91:y:2001:i:7:p:51-94
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