SFA Research Pieces
SFA Research Pieces
SFA Research Corner: How Capital Rules Shape Securitization
Capital rules play a central role in how credit is created, distributed, and funded. In this piece, we explore how recent Basel III revisions and…
SFA Research Corner: Duration Matters: Impact of High Oil Prices on Consumer-Related Securitizations
Oil price shocks do not directly impact consumer-related securitizations, but their effects on household finances can shape credit performance over time. The key variable is…
SFA Research Corner: Mandatory Credit Card Rate Cap: Signal and Substance
President Trump’s proposed one-year 10% cap on credit card interest rates revives a familiar policy debate at a time of rising delinquencies, but key details…
SFA’s Research Corner: Bank Lending, NBFIs, and the Changing Architecture of Credit
We discuss how banks and NBFIs have become more closely linked through credit lines, warehouse financing, and other market-based structures. Drawing on new Fed research…
SFA Research Corner: Shifting Gears in a Two-Speed Market: Credit Transmission and Auto ABS Performance
Recent SLOOS and TransUnion data point to a two-speed credit market: access remains ample for prime borrowers but continues to tighten for subprime consumers. As…
SFA Research Corner: The Next Phase of Student Lending
New federal loan caps under the One Big Beautiful Bill Act (OBBBA)—and cuts at the Department of Education—are set to shift billions in student lending…
SFA Research Corner: From HP IIc to Agentic AI: Why Agentic AI Feels Like the Future of Securitization
In the early 1990s, ABS surveillance meant hand-calculating metrics on an HP IIc calculator, deal by deal, report by report. Today, the data deluge makes…
SFA Research Corner: Trust but Verify: Lessons from Tricolor
Tricolor’s collapse showed how fraud can slip past even well-structured securitizations — not because the structures failed, but because the underlying data was compromised. The…
SFA Research Corner: The Long View: How a CFO Built Resilience
With spreads near historic lows and private credit surging, CFOs face growing pressure to balance capital, growth, and risk. In The Long View: How a…
SFA Research Corner: Tokenization: Securitization’s Container Revolution
Our latest piece explores how tokenization could unify data, payments, and execution into a seamless, real-time infrastructure—cutting costs, boosting transparency, and accelerating settlement. Drawing on…