Pricing Toxic Assets

Currie, CV

Pricing Toxic Assets

Currie, CV

Permalink

Publisher:: Palgrave Macmillan
Publication Type:: Chapter
Citation:: Financial Econometrics Modeling: Derivatives Pricing, Hedge Funds and Term Structure Models, 2011, 1, pp. 53 - 69
Issue Date:: 2011-01

Closed Access

	Filename	Description	Size
	2011004468OK.pdf		9.39 MB	Adobe PDF	View/Open

Copyright Clearance Process

Recently Added
In Progress
Closed Access

This item is closed access and not available.

Full metadata record

Field	Value	Language
dc.contributor.author	Currie, CV	en_US
dc.contributor.editor	Gregoriou, PGN	en_US
dc.contributor.editor	Pascalau, R	en_US
dc.date.issued	2011-01	en_US
dc.identifier.citation	Financial Econometrics Modeling: Derivatives Pricing, Hedge Funds and Term Structure Models, 2011, 1, pp. 53 - 69	en_US
dc.identifier.isbn	978-0-230-28363-3	en_US
dc.identifier.uri	http://hdl.handle.net/10453/17822
dc.description.abstract	The term "toxic asset" is a nontechnical term used to describe certain financial assets whose value has fallen significantly so that there is no longer a functioning market for these assets. That is, there is no liquidity in the market, and the market cannot clear. This term became common during the financial crisis that began in August 2007 but predated the global financial crisis, as it was used in 2006 by Angelo Mozilo, founder of Countrywide Financial, who used the term "toxic" to describe certain mortgage products in emails in spring of 2006.	en_US
dc.publisher	Palgrave Macmillan	en_US
dc.relation.ispartof	Financial Econometrics Modeling: Derivatives Pricing, Hedge Funds and Term Structure Models	en_US
dc.title	Pricing Toxic Assets	en_US
dc.type	Chapter
utslib.location	Basingstoke, UK	en_US
utslib.for	1501 Accounting, Auditing and Accountability	en_US
utslib.citation.edition	1	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access
pubs.consider-herdc	true	en_US
pubs.edition	1	en_US
pubs.place-of-publication	Basingstoke, UK	en_US

Abstract:

The term "toxic asset" is a nontechnical term used to describe certain financial assets whose value has fallen significantly so that there is no longer a functioning market for these assets. That is, there is no liquidity in the market, and the market cannot clear. This term became common during the financial crisis that began in August 2007 but predated the global financial crisis, as it was used in 2006 by Angelo Mozilo, founder of Countrywide Financial, who used the term "toxic" to describe certain mortgage products in emails in spring of 2006.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/17822