The Housing Boom and Bust in Spain: Impact of the Securitisation Model and Dynamic Provisioning
In this paper we explore some lessons from the Spanish housing boom and the incipient bust from the point of view of the usefulness of the regulatory approach, with particular regard to dynamic provisions and the regulatory treatment of securitisation. First, we describe the main features of the recent housing cycle. Secund, we summarize the Spanish securitisation model. Third, we deal with dynamic provisions and in the last section, we present some conclusions.
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