Inhoudsopgave:
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Despite fears that regulators around the world would act to curtail securitisation severely in the aftermath of the collapse of Enron, WorldCom, and Parmalat, the securitisation industry has witnessed what can only be described as relentless innovation. Securisation remains one of the most important means for financial institutions to diversify their funding, transfer credit risk and manage solvency requirements. This volume, the second in a series focusing on the latest innovations in the global securitisation industry, provides advisers with detailed guidance on key structural and legal issues of innovative securitisations, as well as describing the most recent developments in the accounting and risk-capital treatment of securitisation transactions. The contributors represent a wide range of expert participants in the design, execution, and regulation of securitisation transactions. \nAmong the critical features of contemporary securitisation covered are the following: \n\n\nproject finance CLOs;\nsecuritisation of equity risk ;\nsecuritisation of commodity risk through commodity trigger swaps;\nthe convergence of structured credit and securitisation markets;\ninnovation in RMBS: negative equity transactions;\ninnovation in CMBS: A/B structure\nnew markets in Europe, Japan, and Islamic countries;\ncatastrophe risk securitisation;\neffect of recent US bankruptcy legislation on synthetics;\nmicrofinance loan securitisation in emerging markets;\npublic sector securitisation;\nsecuritisable intellectual property; \napplication of accounting standards in a rapidly changing environment, and \nupdated analysis of Basel II.\nThe practical perspective of the contributions, combined with the extensive use of case studies of key transactions, should make this volume an invaluable resource for lawyers as well as legal and business academics interested in the very latest developments in the global securitisation markets. |
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