What is Securitization? And for What Purpose?

Steven L. Schwarcz

Duke University School of Law

January 7, 2013

Southern California Law Review, Vol. 85, No. 5, 2012

In Re: Defining Securitization, Professor Jonathan Lipson attempts to define a “true” securitization transaction. My article engages Lipson’s, exploring how securitization should be legally defined. As a starting point, even a normative approach to defining a financial concept should be pragmatic, taking into account how the concept is used in the real world. The definition also should take into account dynamically changing financial markets and, in what I call an audience-adaptive approach, the different perspectives of policymakers and lawmakers, market participants and their lawyers, regulators and judges, and other members of the “audience” affected by the definition.

Number of Pages in PDF File: 17

Open PDF in Browser Download This Paper

Date posted: February 3, 2012 ; Last revised: December 28, 2014

Suggested Citation

Schwarcz, Steven L., What is Securitization? And for What Purpose? (January 7, 2013). Southern California Law Review, Vol. 85, No. 5, 2012. Available at SSRN: http://ssrn.com/abstract=1996670

Contact Information

Steven L. Schwarcz (Contact Author)
Duke University School of Law ( email )
210 Science Drive
Box 90362
Durham, NC 27708
United States
919-613-7060 (Phone)
919-613-7231 (Fax)

Feedback to SSRN

Paper statistics
Abstract Views: 2,779
Downloads: 542
Download Rank: 36,614

© 2016 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollobot1 in 0.187 seconds