Securitisation in Microfinance and Global Financial Crisis: Innovation or Trojan Horse?

28 (3) Journal of International Banking Law and Regulation 109 (2013)

41 Pages Posted: 10 May 2013 Last revised: 28 Jun 2013

See all articles by Eugenia Macchiavello

Eugenia Macchiavello

University of Genoa, Department of Law - Section of Business and Economic Law; Genoa Centre for Law and Finance

Date Written: December 1, 2012

Abstract

Microfinance institutions, in their efforts to improve outreach and expand the range of financial services offered to the poor, have recurred to more and more sophisticated financing instruments, including securitization. The paper explores the advantages offered by this form of funding as well as its risks and downsides, in the light of microfinance characteristics and the lessons learnt during the recent subprime mess.

Keywords: Securitization, subprime, microfinance, microcredit, financial crisis, financial inclusion, SPV

Suggested Citation

Macchiavello, Eugenia, Securitisation in Microfinance and Global Financial Crisis: Innovation or Trojan Horse? (December 1, 2012). 28 (3) Journal of International Banking Law and Regulation 109 (2013), Available at SSRN: https://ssrn.com/abstract=2262385

Eugenia Macchiavello (Contact Author)

University of Genoa, Department of Law - Section of Business and Economic Law ( email )

Via Balbi 22, 2nd floor
Genova, Genoa 16126
Italy

Genoa Centre for Law and Finance ( email )

Via Balbi, 22
16126 Genova
Italy

HOME PAGE: http://www.clfge.org/teams/eugenia-macchiavello/

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