- Additional Authors
- Wehinger, Gert.
- Found In
- OECD Journal: Financial Market Trends Vol. 2014, no. 1, p. 139-162 1995-2872
- Description
- 24 p.
- Summary
- Reducing bank dependence in financing small-and medium-sized enterprises (SMEs) that are key contributors to economic growth and job creation should help making them more resilient to financial shocks. Various non-bank debt financing alternatives are available and were the focus of a Roundtable discussion that this article draws on. Revitalising securitisation, tarnished during the crisis, is important, by making it safer, simpler and more transparent, and perhaps also by offering some (initial) government and regulatory support. Similarly, covered bonds can be attractive instruments for SME finance. For mid-sized companies, bond issuance and private placements may also provide useful alternatives. All these instruments can and should be tailored to fit the investors' needs. There is no "silver bullet" for SME finance which is exceptionally complex due to the diversity of SMEs themselves. Data transparency, standardisation, regulatory support and raising awareness about available financing options should be among the issues to be addressed. JEL classification: G1, G2, G23, G28 Keywords: SME finance, non-bank finance, (high-quality) securitisation, asset-backed securities (ABS), SME CLO (collateralised loan obligation), (covered) bonds, private placements, European DataWarehouse, Prime Collateralised Securities (PCS) initiative.
- Subject
- Finance and Investment
- LCCN
- 10.1787/fmt-2014-5jxx05svvw34
- OCLC
- oecd-lib
- Author
Kaousar Nassr, Iota.
- Title
Non-bank debt financing for SMEs [electronic resource]: The role of securitisation, private placements and bonds / Iota Kaousar Nassr and Gert Wehinger
- Imprint
Paris : OECD Publishing, 2014.
- Connect to:
- Indexed Term
Finance and Investment
- Added Author
Wehinger, Gert.
- Found In:
OECD Journal: Financial Market Trends Vol. 2014, no. 1, p. 139-162 2014:1<139 1995-2872
- Other Standard Identifier
10.1787/fmt-2014-5jxx05svvw34 doi