SSRN Electronic Journal · 2010 · 14 citations · 3 references
Open access
BusinessAccountancyFinanceFinancial EconomicsFinancial MarketsFinancial RegulationAsset-backed Securities RegulationCapital MarketsDisclosure ComplianceFinancial CrisesFinancial ReportingFinancial StatementsAbs Market TransparencyAsset-backed LendingDisclosure In Securities OfferingsFinancial Crisis PreventionFinancial Statement Note DisclosureMarket CollapseMarket Reaction To DisclosureSetback Reform
The asset-backed securities (ABS) market suffered a major setback during the financial crisis that began in 2007. Its role in the broader market collapse has been well documented, but the need to restore a healthy ABS market is equally clear. Indeed, North American policymakers have readily acknowledged that this market must play a major role in the global economic recovery and policymakers have recently moved beyond addressing the urgency of restarting the ABS market to considering its reform. An analysis of current reform proposals guides suggestions for a policy approach that reflects Canadian market realities. Specifically, it would be prudent in the Canadian context to impose new disclosure requirements for all public market medium-term note issuance.
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