259 disagreements when it comes to the different risk retention methods. While for infrequent originators, we observe negative odds ratios of -0.48 (c zo-lsutma tn= (-42). 3o1f ) Tfaobrl et h6e. 7 .VSEiSm iml aertl hy,owd ,e sfiignndi fni ceagnatt i va et st hi gen i5f i%c a nsti grneisf iuclat sn cf eo r l eFvLeEl ,, ww hi tehnowd de s r oe mf -o1v. 5e 4o, ui nr sceotl uomf ni n d( 4e)p. eTnhdee nr te svualrt isa br el ems aiinn ccoolnusmi snt e(n1t) .o nT lhye f or er sFuLl tEs sFuLgEgme set tthhoadt Ct hRaAt sa mr e aoi nr il gy i ns eaet emd tboyhianvf reelqe us se ndti soargi rgei ne amt oe nr st .s I fno rl i nt rea wn ci ht he sT awbi lteh 6t h. 6e, we find no significant results for OBS in Table 6.7. Hence, CRAs do not seem to ethxepeOrBieSnmceetlehsosdo, crommopraerdedisatogrteheemFeLTntms betehtwode.en credit ratings of tranches with Tmoe tshuomd mt ha ar inz ef o, rwter afni nc dh etsh awt i tchr etdh iet Fr aLTt i nmg se t ahroed .wWo res ae l, soonf i anvde rt ha ga et , , ffoorr t trha en cVhEe Ss wa viet hr afgree qwuoe rnsteo froi gr i nt haet oFr Ls Eo rmt eh tohsoedw, ci tohmapna Sr e&dP troa ttihneg , FtLhTe mc reetdhi ot dr a. tI inn gasd da ri tei oonn, wt hee fVi nEdS at hnadt FrLa Et i nmg edt hi soadg rt eheamn ef onrt st haemFoLnTg ms t eCt hRoAds . iHs ol we sesv lei rk, ewl ye, of i nn da vt he raat grea,t ifno gr do ri si ga ignrae teomr se. nSt oi s appapr at irceunl talryl, y Cl oRwA se r rfeopr otrrta ns ct rhi ec st etrh ar ta tairneg os r ai gni dn aet xe pd ebryi ei nn cf ree qf euwe en rt rwaittihn gt hdei sFaLgTr eme me t eh no tds. fTorratnr ca hn ec sh ews i wt hi tthh et hFeLVTEmS ea tnhdoFdLsEe emme tthoohda, vt he abneftot er rt rraant icnhgess, oanndavreepraogret,sbpulittCrRatAinsgsseeams atoremsuislta.lign in their credit risk assessment more often 6.5.2 Risk retention methods and spread at issuance The sole purpose of the risk retention rule was to better align the interest between the originator and investor, by requiring originators to have a significant portion Chapter 6 - Risk Retention in the European Securitization Market
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