ECONOMIC INTERESTS OF A COMMERCIAL BANK IN THE PROCESS OF SECURITIZATION OF MORTGAGE ASSETS
The article is devoted to the analysis of forms of realization of economic interests of a commercial bank in the process of securitization of mortgage assets. The relevance of the research topic is that securitization of mortgage loans is an important factor in attracting long-term investments in the economy, as well as the development of commercial banks, which, in turn, are integral elements of the successful functioning of the financial system. The purpose of this article is to assess the degree of influence of the securitization mechanism on the financial performance of a commercial bank. The object of research is the mechanism of mortgage securitization. The subject of the study is the economic and institutional relations that arise between participants in the transaction of securitization of mortgage assets. The study analyzes the current state of the bank mortgage securitization market in Russia, identifies key trends in its development, and uses the tools of probability theory and statistical analysis to determine the degree of influence of securitization transactions on the financial activities of credit organizations. The authors of the article assume that the volume of the mortgage securities market will gradually grow in the future, since there is an increase in the volume of mortgage loans and the average size of mortgage coverage.
Keywords: economic interests, originator`s bank, SPV, securitization, mortgage securities, liquid¬ity indicators.
Highlights:
♦ the securitization mechanism allows you to solve many tasks and bring benefits to all participants of the financial market. For banks, securitization is a great way to attract additional financing on fairly favorable terms, diversify their funding sources, and, just as important, manage their performance and maintain the required standards;
♦ in general, securitization in the Russian Federation is gaining momentum and has a good potential for growth, despite the presence of some problems related to the immaturity and peculiarities of the Russian market, mainly in the area of legislation and low demand;
♦ statistical testing of the impact of securitization on the performance of banks in the Russian market did not show a significant improvement in indicators after transactions. As a result of transactions, original banks manage to significantly increase their current liquidity ratios.
Olga Yu. Kuzmina, Candidate of Economics, Associate Professor of the Economic Theory Department; Maria E. Konovalova, Doctor of Economics, Head of the Economic Theory Department; Alexey Yu. Mishin, Postgraduate student - Samara State University of Economics.