The authors of the study argued that the issuance of debt securities by banks would require risk profiling, which in turn would provide a window into a bank`s finances and operations at a time of significant change after the repeal of the Glass-Steagall Act. In some cases, subordinated debt securities of mutual savings banks are used to amortize their assets to meet Tier 2 capital regulatory requirements. Subordinated debt securities are all debts below or below the priority debt. However, subordinated debt instruments take precedence over preferential capital and share capital. For example, subordinated debt is mezzanine debt, which is debt that includes an investment. In addition, asset-backed securities generally have a subordinated function in which certain tranches are considered subordinated to priority tranches. Asset-backed securities are securities of financial value secured by a set of assets, including loans, leases, credit card debts, royalties or receivables. . . .