Potomova S.A.

Purpose. Identification of problems with the use of multi-originator securitization of mortgage assets and the prospects for the development of such transactions in the Russian Federation. Methods. Analyzed the current situation in the mortgage securitization market, and also conducted a comparative analysis of two securitized pools and based on the correlation and regression analysis the level of credit risk of each pool was revealed. Results. Based on the current structure of the mortgage bonds market, it was concluded that the growth of multi-originator securitization transactions was due to support from AHML. The Agency itself identified three major risks: operational, credit and market; However, the result of the study highlighted the special role of credit risk, the level of which determines the possibility of conducting a transaction or the likelihood of its completion. The article analyzes two issues of securitized mortgage loan pools traded on the market. As a result, a higher credit risk was revealed for the pool created on the basis of the multi-originator platform of AHML, which confirms the theory of the problems that still exist when using such a platform... Purpose. Identification of problems with the use of multi-originator securitization of mortgage assets and the prospects for the development of such transactions in the Russian Federation. Methods. Analyzed the current situation in the mortgage securitization market, and also conducted a comparative analysis of two securitized pools and based on the correlation and regression analysis the level of credit risk of each pool was revealed. Results. Based on the current structure of the mortgage bonds market, it was concluded that the growth of multi-originator securitization transactions was due to support from AHML. The Agency itself identified three major risks: operational, credit and market; However, the result of the study highlighted the special role of credit risk, the level of which determines the possibility of conducting a transaction or the likelihood of its completion. The article analyzes two issues of securitized mortgage loan pools traded on the market. As a result, a higher credit risk was revealed for the pool created on the basis of the multi-originator platform of AHML, which confirms the theory of the problems that still exist when using such a platform. Among the promising areas highlighted the development and improvement of the PPS-securitization system. The advantage of this system is that, on the one hand, clear conditions will be defined for banks wishing to use such a platform, and on the other hand, this will be an incentive to reduce the risk weights assigned to securities issued under specified conditions. As a result, it was concluded that the system for assessing and managing credit risk is crucial for the further development of the market of multi-originator transactions in the Russian Federation. Scientific novelty. The current structure of the mortgage bonds market, development directions and market problems associated with an increase in multi-originator securitization transactions were determined. The scientific novelty consists in identifying the special role of the credit risk assessment and management system for the further development of the market of multi-originator securitization transactions. function show_eabstract() { $('#eabstract1').hide(); $('#eabstract2').show(); $('#eabstract_expand').hide(); } ▼Показать полностью

To identify and analyze factors determining economic security level of oil industry, to establish criteria for their identification and assessment. Methods. The methodology of the research work is based on a systematic approach involving methods of analysis and synthesis, comparative studies, combination of logical and historical, operation and development, induction and deduction, extrapolation and interpolation and structural-functional approach. Results and practical importance. The practical importance of the article is that the developed tools for factor identification and assessment can serve as a basis for developing national prevention programs to address threats to economic security of oil industry. Certain provisions and conclusions of the research work can be applied to improve the methodological basis of strategic management of oil industry assets. Scientific novelty. Factors determining economic security level of oil industry are identified and systematized, also, probable implications, identification and assessment criteria are considered.

Purpose. Identification and ordering management tools of economic security of oil industry in the face of fluctuations in world prices for hydrocarbons and combining them into a single algorithm to deal with threats to economic security for the oil industry. Methods. Methodology of the article is based on a systems approach using methods of analysis and synthesis, comparative literature, combining logical and historical, functioning and development, induction and deduction, extrapolation and interpolation, structural-functional approach. Results and practical value. The practical value of the work lies in the fact that the developed anti-crisis management toolkit can serve as a basis for the development of national prevention programs to address threats to economic security for the oil industry. Scientific novelty. The authors identified and systematized tools to counteract threats to economic security factors of the oil industry in the face of fluctuations in world prices for hydrocarbons and developed the algorithm to counter the threats of economic safety of the oil industry.