Analisi delle caratteristiche del processo di securitization: un'applicazione alla gestione bancaria

[Autom. eng. transl.] The present work aims to interpret the nature and fundamental characteristics of the securitization process in an attempt to define whether and to what extent it can be integrated into the operations of the banks. The assessment of the relationship or degree of applicability of any process of financial innovation in the management model of a particular type of intermediary implies, in fact, an effort to define the fundamental characteristics of the process in question, starting from the market implications that have generated it or encouraged development. It also involves an effort to verify the existence of the conditions of the structure in the context of both the financial intermediation case on which the opportunity of innovation is to be verified, and of the market in general. Finally, it requires an effort of "replacement" as limited as possible of contingent characteristics that can make the phenomenon of integration of the process under examination modular on any type of operation, without depressing, or deviating, the nature of the process itself. The attempt to evaluate the type of integration that we wanted to outline, for the moment, in general, imposes itself on the analysis process under a particularly complex profile as it assumes relevance the awareness that we cannot speak of direct integration (ie developed on and from the same market in which, therefore, it becomes a physiological consequence to seek the most appropriate form of intermediation that justifies and supports this same process), but of "indirect" integration (as it is not applied to the same market in which it originated) .