题目
Which of the following is not a strength of the securitization process?
选项
A.Enhances credit product access for low-quality borrowers
B.Credit risk can be distributed to multiple market participants
C.Enables a transparent four-step process
D.Enables borrowers to lower their borrowing costs
答案
C
解析
The securitization process enhances loan access forlow-quality borrowers. It also gives borrowers access to additional creditproducts at lower borrowing costs. Banks using an OTD model get higher fees forsourcing loans with higher interest rates. Investors get access tohigher-yielding loan products as long as default rates are not an issue. Thecore of this process is to distribute credit risk to multiple marketparticipants. The securitization process is not transparent.证券化过程增加了低质量借款人的贷款渠道。 它还使借款人能够以较低的借贷成本获得更多的信贷产品。 使用OTD模型的银行获得更高利率的贷款可获得更高的费用。 只要违约率不成问题，投资者就可以使用收益较高的贷款产品。 此过程的核心是将信用风险分配给多个市场参与者。 证券化过程并不透明。