학술논문
Credit Investors Snap Up Bonds Backed by Art Loans, Internet Addresses.
Document Type
Article
Author
Source
Subject
*Investors
*Loans
*Asset backed financing
*Art auctions
*Bonds (Finance)
*Financial markets
*Credit
Wall Street (New York, N.Y.)
Internet protocol address
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Language
Abstract
Wall Street is increasingly turning to unconventional debt to package into asset-backed securities (ABS), including art loans and internet addresses. Esoteric ABS deals, backed by collateral other than traditional loans, have risen to about 31% of the ABS market. Recent transactions include a bond backed by internet protocol addresses and bonds backed by personal loans made to art collectors. While these exotic collateral types carry extra risk, they are considered safer than the mortgage-related instruments that triggered the 2008 financial crisis. The ABS market is evolving, with structural creativity becoming more common, and investors are becoming more comfortable with understanding the risk-reward associated with esoteric collateral. [Extracted from the article]