{"product_id":"securitization-the-financial-instrument-of-the-future-hardback-9780470821954","title":"Securitization; The Financial Instrument of the Future (Hardback) 9780470821954","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eSecuritization\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eThe Financial Instrument of the Future\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eVinod Kothari (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9780470821954, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 18 August 2006\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e1200 pages\u003cbr\u003e26.2 x 18.5 x 5.6 cm, 2.15 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003cp\u003eGet a thorough explanation of the nuances of securitization in the global business market with this comprehensive resource. Synthetic securitization and structured products are revolutionizing the financial industry and changing the way banks, institutional investors, and securities traders do business both domestically and globally. Written by a top international trainer and expert on securitization, this book is an ideal way for all market practitioners, whether investors, bankers, or analysts, to ensure they understand the ins and outs of this practice.\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePreface to the Second Edition.  \u003cp\u003ePreface to the First Edition.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 1: Securitization: Concepts \u0026amp; Markets.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e1. Securitization and structured finance.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBasic meaning of securitization.\u003c\/p\u003e \u003cp\u003eSecuritization of receivables.\u003c\/p\u003e \u003cp\u003eSecuritization and asset-backed finance.\u003c\/p\u003e \u003cp\u003eSecuritization and structured finance.\u003c\/p\u003e \u003cp\u003eThe big picture of securitization of finance.\u003c\/p\u003e \u003cp\u003eSecuritization as a tool of risk management.\u003c\/p\u003e \u003cp\u003eEconomic impact of securitization.\u003c\/p\u003e \u003cp\u003eThe alchemy of securitization: Is the sum of parts more than the whole?\u003c\/p\u003e \u003cp\u003eRisks inherent in securitization.\u003c\/p\u003e \u003cp\u003eSecuritization terminology.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2. Securitization: Methodology, structures, Motivators and Demotivators.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eModus operandi of securitization briefly explained.\u003c\/p\u003e \u003cp\u003eEconomic substance of securitization: where does the alchemy lie?\u003c\/p\u003e \u003cp\u003eFeatures of securitization of receivables.\u003c\/p\u003e \u003cp\u003eSecuritization and factoring.\u003c\/p\u003e \u003cp\u003eSecuritization and ring fencing.\u003c\/p\u003e \u003cp\u003eAsset classes.\u003c\/p\u003e \u003cp\u003eBroad types of securitization structures.\u003c\/p\u003e \u003cp\u003eDirect portfolio transfers.\u003c\/p\u003e \u003cp\u003ePass-through structure.\u003c\/p\u003e \u003cp\u003ePay-through structure.\u003c\/p\u003e \u003cp\u003eCollateralized mortgage obligation bonds.\u003c\/p\u003e \u003cp\u003eFuture flows of securitization.\u003c\/p\u003e \u003cp\u003eAdvantages of securitization for the issuer.\u003c\/p\u003e \u003cp\u003eAdvantages to the investors.\u003c\/p\u003e \u003cp\u003eThreats in securitization.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3. The world of securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II: Financial Substance and Ratings.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHistory of securitization.\u003c\/p\u003e \u003cp\u003eThe life cycle of securitization.\u003c\/p\u003e \u003cp\u003ePresent state of securitization (US, Europe, Central America, Asia, The Pacific).\u003c\/p\u003e \u003cp\u003eTrends in global securitization.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4. Structuring and credit-enhancing securitization transactions.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBasics of securitization structuring.\u003c\/p\u003e \u003cp\u003eStructuring variables.\u003c\/p\u003e \u003cp\u003eParties involved\u003c\/p\u003e \u003cp\u003eSteps in a securitization transaction.\u003c\/p\u003e \u003cp\u003eCredit enhancements.\u003c\/p\u003e \u003cp\u003eOriginator credit enhancements.\u003c\/p\u003e \u003cp\u003eStructural credit enhancements.\u003c\/p\u003e \u003cp\u003eThird-party credit enhancements.\u003c\/p\u003e \u003cp\u003eSizing of credit enhancements.\u003c\/p\u003e \u003cp\u003eLiquidity enhancements.\u003c\/p\u003e \u003cp\u003ePay-down structure.\u003c\/p\u003e \u003cp\u003eMaturity of the securities.\u003c\/p\u003e \u003cp\u003eProfit extraction devices.\u003c\/p\u003e \u003cp\u003eCashflow waterfall.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5. Understanding the nature and risks of asset-backed securities.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAsset-backed securities and the underlying collateral.\u003c\/p\u003e \u003cp\u003eRisks in asset-backed securities.\u003c\/p\u003e \u003cp\u003eModelling of asset risks.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6. Understanding prepayment risk in asset backed securities.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePrepayment as a risk.\u003c\/p\u003e \u003cp\u003ePrepayment risk in asset-backed securities.\u003c\/p\u003e \u003cp\u003ePrepayment risk in mortgage pools.\u003c\/p\u003e \u003cp\u003ePrepayment modeling.\u003c\/p\u003e \u003cp\u003eStatic prepayment models.\u003c\/p\u003e \u003cp\u003eThe PSA prepayment model.\u003c\/p\u003e \u003cp\u003eThe CPR and the other static models.\u003c\/p\u003e \u003cp\u003eDynamic or econometric prepayment models.\u003c\/p\u003e \u003cp\u003eProjection of interest rates.\u003c\/p\u003e \u003cp\u003ePrepayments for adjustable rate mortgages.\u003c\/p\u003e \u003cp\u003ePrepayment model for commercial mortgages.\u003c\/p\u003e \u003cp\u003ePrepayment models for non-U.S. pools.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7. Understanding default risk in asset backed securities.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNature of default risk – default as an option.\u003c\/p\u003e \u003cp\u003eThe option to default on mortgages.\u003c\/p\u003e \u003cp\u003eDefault rates as a function of seasoning.\u003c\/p\u003e \u003cp\u003eDefault risk for different securities.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8. Cashflow modeling for asset-backed securities.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eConstructing the cashflow model.\u003c\/p\u003e \u003cp\u003eUnderstanding the asset and its repayment over time.\u003c\/p\u003e \u003cp\u003eThe factors that affect asset cashflows.\u003c\/p\u003e \u003cp\u003eThe factors that affect the factors that affect cashflow.\u003c\/p\u003e \u003cp\u003eUnderstanding transaction structure.\u003c\/p\u003e \u003cp\u003eModelling a real life case.\u003c\/p\u003e \u003cp\u003eStress testing the model.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9. Securitization: Financial evaluation for the originator.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSecuritization: The quantifiables and the non-quantifiables.\u003c\/p\u003e \u003cp\u003eSecuritization versus the unknown.\u003c\/p\u003e \u003cp\u003eThe NPV of originator’s residual interest.\u003c\/p\u003e \u003cp\u003eImpact of prepayment.\u003c\/p\u003e \u003cp\u003eFactors affecting originator’s residual interest.\u003c\/p\u003e \u003cp\u003eExpected value of originator’s residual interest.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10. Investor evaluation of asset-backed securities.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSpreads inherent in asset-backed securities.\u003c\/p\u003e \u003cp\u003eUnderstanding of duration.\u003c\/p\u003e \u003cp\u003eUnderstanding of convexity.\u003c\/p\u003e \u003cp\u003eImpact of prepayment on ABS investments.\u003c\/p\u003e \u003cp\u003eComputation of option-adjusted spread.\u003c\/p\u003e \u003cp\u003eUnderstanding default risk.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11. Rating of securitization transactions.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStructured finance ratings vs other fixed income ratings.\u003c\/p\u003e \u003cp\u003eRating agency concerns.\u003c\/p\u003e \u003cp\u003eThe rating process.\u003c\/p\u003e \u003cp\u003eRating models.\u003c\/p\u003e \u003cp\u003eDifferences between structured finance and corporate finance ratings.\u003c\/p\u003e \u003cp\u003eWhat credit ratings do not rate.\u003c\/p\u003e \u003cp\u003eServicer evaluation.\u003c\/p\u003e \u003cp\u003eRole of ratings in structured finance.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 2: Securitization: Asset classes and applications\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e12. Residential mortgage-backed securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMortgage funding systems.\u003c\/p\u003e \u003cp\u003eGovernment support to housing finance.\u003c\/p\u003e \u003cp\u003eWhy secondary mortgage markets.\u003c\/p\u003e \u003cp\u003eOrigin of the secondary mortgage markets.\u003c\/p\u003e \u003cp\u003eOverview of the US RMBS market.\u003c\/p\u003e \u003cp\u003eSecondary mortgage market in other countries.\u003c\/p\u003e \u003cp\u003eStructuring of RMBS transactions.\u003c\/p\u003e \u003cp\u003eCase studies of RMBS.\u003c\/p\u003e \u003cp\u003eHome equity loans securitization.\u003c\/p\u003e \u003cp\u003eManufactured home loans.\u003c\/p\u003e \u003cp\u003eInvesting in the MBS market.\u003c\/p\u003e \u003cp\u003eMortgage bonds.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e13. Commercial mortgage-backed securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat is CMBS?\u003c\/p\u003e \u003cp\u003eCMBS market.\u003c\/p\u003e \u003cp\u003eTypes of CMBS.\u003c\/p\u003e \u003cp\u003eStructure of a CMBS transaction.\u003c\/p\u003e \u003cp\u003eCase study: GMAC’s 2001WTC transaction.\u003c\/p\u003e \u003cp\u003eCase study: Canary Wharf – a Typical UK CMBS.\u003c\/p\u003e \u003cp\u003eInvesting in CMBS: Performance of CMBS.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e14. Credit cards securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNature of credit card debt.\u003c\/p\u003e \u003cp\u003eAn overview of the market.\u003c\/p\u003e \u003cp\u003eTransaction structure.\u003c\/p\u003e \u003cp\u003eDevelopment of the master trust structure.\u003c\/p\u003e \u003cp\u003eComponents of a credit card structure.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e15. Auto loan securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eForms of car funding.\u003c\/p\u003e \u003cp\u003eAuto loans securitization market.\u003c\/p\u003e \u003cp\u003eCollateral quality.\u003c\/p\u003e \u003cp\u003eTypical structures.\u003c\/p\u003e \u003cp\u003eSpecific issues in auto loan securitization.\u003c\/p\u003e \u003cp\u003eCase Study – Daimler-Chrysler Auto Trust.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e16. Equipment Lease Securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInvesting in equipment lease securitizations.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e17. Collateralized Debt Obligations.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat is a CDO?\u003c\/p\u003e \u003cp\u003eTypes of CDOs.\u003c\/p\u003e \u003cp\u003eGrowth of the CDO market.\u003c\/p\u003e \u003cp\u003eBalance sheet CDOs.\u003c\/p\u003e \u003cp\u003eArbitrage CDOs.\u003c\/p\u003e \u003cp\u003eMarket value CDOs.\u003c\/p\u003e \u003cp\u003eRamp up period.\u003c\/p\u003e \u003cp\u003eThe CDO manager.\u003c\/p\u003e \u003cp\u003eThe CDO investors.\u003c\/p\u003e \u003cp\u003eThe CDO trustee.\u003c\/p\u003e \u003cp\u003eCredit enhancer ad swap counterparty.\u003c\/p\u003e \u003cp\u003eManaging the assets of CDOs.\u003c\/p\u003e \u003cp\u003eAsset quality tests.\u003c\/p\u003e \u003cp\u003eCashflow coverage tests.\u003c\/p\u003e \u003cp\u003eResecuritization or structured finance CDOs.\u003c\/p\u003e \u003cp\u003eDistressed debt CDOs.\u003c\/p\u003e \u003cp\u003eHedge fund CDOs or fund of funds.\u003c\/p\u003e \u003cp\u003eInvesting in CDOs.\u003c\/p\u003e \u003cp\u003eRisks in CDO investment – structure and collateral risks.\u003c\/p\u003e \u003cp\u003eTaxation of CDOs.\u003c\/p\u003e \u003cp\u003eLegal issues specific to CDOs.\u003c\/p\u003e \u003cp\u003eCDOs and index trading.\u003c\/p\u003e \u003cp\u003eCurrent problems facing the CDO sector.\u003c\/p\u003e \u003cp\u003eRating agencies approaches to CDOs.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e18. Asset-backed commercial paper.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGenesis of asset-backed commercial paper.\u003c\/p\u003e \u003cp\u003eThe ABCP market.\u003c\/p\u003e \u003cp\u003eTypes of ABCP conduits.\u003c\/p\u003e \u003cp\u003eABCP collateral.\u003c\/p\u003e \u003cp\u003eCredit enhancements structure.\u003c\/p\u003e \u003cp\u003eLiquidity support.\u003c\/p\u003e \u003cp\u003eParties to an ABCP program.\u003c\/p\u003e \u003cp\u003eRating of ABCP conduits.\u003c\/p\u003e \u003cp\u003eCase study: Spinnaker Capital ABCP Program.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e19. Future flows securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat future flows are securitizable.\u003c\/p\u003e \u003cp\u003eWhy future flow securitization?\u003c\/p\u003e \u003cp\u003eTypes of future flow deals.\u003c\/p\u003e \u003cp\u003eStructural features.\u003c\/p\u003e \u003cp\u003eExisting asset, future income: A case of toll revenues securitization.\u003c\/p\u003e \u003cp\u003eServicing risks in future flows.\u003c\/p\u003e \u003cp\u003eThe future flows market.\u003c\/p\u003e \u003cp\u003eLegal taxation and accounting issues.\u003c\/p\u003e \u003cp\u003eExperience with future flows.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e20. Whole business and operating revenues securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMarket development.\u003c\/p\u003e \u003cp\u003eMethodology.\u003c\/p\u003e \u003cp\u003eStructural and credit enhancements.\u003c\/p\u003e \u003cp\u003eThe legal basis.\u003c\/p\u003e \u003cp\u003eBusinesses where whole business securitization is possible.\u003c\/p\u003e \u003cp\u003eWhy SPV in a whole business structure.\u003c\/p\u003e \u003cp\u003eCase study: South East Water (Finance) Ltd.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e21. Other miscellaneous asset classes.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSecuritization of intellectual property.\u003c\/p\u003e \u003cp\u003eSecuritization of non-performing loans.\u003c\/p\u003e \u003cp\u003eGovernment receivables.\u003c\/p\u003e \u003cp\u003eFinancial future flows.\u003c\/p\u003e \u003cp\u003eInventory securitization.\u003c\/p\u003e \u003cp\u003eInsurance securitization.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e22. Synthetic securitization and other risk transfer devices.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCash vs synthetic securitization.\u003c\/p\u003e \u003cp\u003eAdvantages of synthetic securitization over cash transfers.\u003c\/p\u003e \u003cp\u003eInefficiencies of a synthetic securitization.\u003c\/p\u003e \u003cp\u003eDistinction between cash-funded and synthetic securitization.\u003c\/p\u003e \u003cp\u003eBalance sheet and arbitrage synthetic securitization.\u003c\/p\u003e \u003cp\u003eElements of balance sheet synthetic securitization.\u003c\/p\u003e \u003cp\u003eArbitrage synthetic CDOs.\u003c\/p\u003e \u003cp\u003eOC and IC triggers for synthetic CDOs.\u003c\/p\u003e \u003cp\u003ePay-down structure.\u003c\/p\u003e \u003cp\u003eEvolution and growth of synthetic securitization.\u003c\/p\u003e \u003cp\u003eInvesting in synthetic CDOs.\u003c\/p\u003e \u003cp\u003eInsurance risk securitization and other methods of alternative risk transfer.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV: Technical and Operational Aspects.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e23. Legal issues in securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe significance of legal issues in securitization.\u003c\/p\u003e \u003cp\u003eWhy are securitization legal issues complicated?\u003c\/p\u003e \u003cp\u003eSecuritization: The big picture.\u003c\/p\u003e \u003cp\u003eWhat are the main legal issues?\u003c\/p\u003e \u003cp\u003eSecuritization and loan obligations.\u003c\/p\u003e \u003cp\u003eThe true sale question.\u003c\/p\u003e \u003cp\u003eCase law on true sale.\u003c\/p\u003e \u003cp\u003eThe factors that make or mar a true sale.\u003c\/p\u003e \u003cp\u003eFactors in determination of a sale.\u003c\/p\u003e \u003cp\u003eMethods of transferring receivables.\u003c\/p\u003e \u003cp\u003eLegal system and assignment of receivables.\u003c\/p\u003e \u003cp\u003eProcedure for assignment of actionable claims.\u003c\/p\u003e \u003cp\u003eEquitable assignment.\u003c\/p\u003e \u003cp\u003eStamp duty on securitization.\u003c\/p\u003e \u003cp\u003eAvoiding stamp duty by shifting jurisdiction.\u003c\/p\u003e \u003cp\u003eStamp duties on transfer of securities of the SPV.\u003c\/p\u003e \u003cp\u003eStamp duty on securitization transactions: Indian case.\u003c\/p\u003e \u003cp\u003eStamp duty relaxations in other countries.\u003c\/p\u003e \u003cp\u003eSecured loan structures.\u003c\/p\u003e \u003cp\u003eLegal issues in synthetic structures.\u003c\/p\u003e \u003cp\u003eBankruptcy remote securitization.\u003c\/p\u003e \u003cp\u003eOrganizational forms of SPVs.\u003c\/p\u003e \u003cp\u003eBankruptcy remoteness of SPVs.\u003c\/p\u003e \u003cp\u003eConsolidation of the SPV.\u003c\/p\u003e \u003cp\u003eLegal rights of the investor: Legal nature of the investor’s right.\u003c\/p\u003e \u003cp\u003eLegal nature of a future flow securitization.\u003c\/p\u003e \u003cp\u003eLegal issues in arbitrage transactions.\u003c\/p\u003e \u003cp\u003eIdeal legal framework for securitization.\u003c\/p\u003e \u003cp\u003eUNCIRAL initiative for uniform law on assignment of receivables.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e24. Legal documentation for securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBasic structure of documentation.\u003c\/p\u003e \u003cp\u003eThe pooling and servicing agreement.\u003c\/p\u003e \u003cp\u003eServicing covenants.\u003c\/p\u003e \u003cp\u003eThe trust deed.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e25 Operational issues in securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSignificance of operational risk.\u003c\/p\u003e \u003cp\u003eTypes of servicers.\u003c\/p\u003e \u003cp\u003eServicer strengths.\u003c\/p\u003e \u003cp\u003eServicer qualities.\u003c\/p\u003e \u003cp\u003eServicing transition.\u003c\/p\u003e \u003cp\u003eBackup service.\u003c\/p\u003e \u003cp\u003eReporting by the servicer.\u003c\/p\u003e \u003cp\u003eRole of trustees in operation of the transaction.\u003c\/p\u003e \u003cp\u003eFraud risk.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e26 Tax issues in securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eConcept in tax neutrality or tax transparency.\u003c\/p\u003e \u003cp\u003eSubstance of the transaction: sale or financing.\u003c\/p\u003e \u003cp\u003eTax treatment in the originators’ hands.\u003c\/p\u003e \u003cp\u003eTax treatment of the Special Purpose Vehicle (SPV).\u003c\/p\u003e \u003cp\u003eU.S. taxation rules for securitization.\u003c\/p\u003e \u003cp\u003eThin capitalization rules and SPV taxation.\u003c\/p\u003e \u003cp\u003eTaxation of SPVs where no specific provisions exist: India.\u003c\/p\u003e \u003cp\u003eDeductibility of expenses by the SPV.\u003c\/p\u003e \u003cp\u003eTax treatment in the hands of the investors.\u003c\/p\u003e \u003cp\u003eWithholding taxes.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e27. Accounting for securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSecuritization accounting in flux.\u003c\/p\u003e \u003cp\u003eThe basic accounting rule: Substance over form.\u003c\/p\u003e \u003cp\u003eDevelopment of accounting principles on securitization.\u003c\/p\u003e \u003cp\u003eSale treatment vs loan treatment.\u003c\/p\u003e \u003cp\u003ePre-conditions for sale treatment.\u003c\/p\u003e \u003cp\u003ePre-conditions for sale accounting.\u003c\/p\u003e \u003cp\u003eQualifying SPV.\u003c\/p\u003e \u003cp\u003eSale treatment – balance sheet and revenue impact.\u003c\/p\u003e \u003cp\u003eRetained interest valuation in a real life case.\u003c\/p\u003e \u003cp\u003eGain on sale accounting.\u003c\/p\u003e \u003cp\u003eIAS 39 Revised and securitization.\u003c\/p\u003e \u003cp\u003eFinancing treatment and linked treatment.\u003c\/p\u003e \u003cp\u003eComparative view of sale and financing treatment.\u003c\/p\u003e \u003cp\u003eDisclosures by the originator.\u003c\/p\u003e \u003cp\u003eAccounting by the SPV.\u003c\/p\u003e \u003cp\u003eConsolidation of SPV accounts with the originator.\u003c\/p\u003e \u003cp\u003eConsolidation of variable interest entities under U.S.\u003c\/p\u003e \u003cp\u003eAttaining sale treatment for accounts and loan treatment for taxes.\u003c\/p\u003e \u003cp\u003eAccounting for revolving asset securitizations.\u003c\/p\u003e \u003cp\u003eAccounting for future flow securitization.\u003c\/p\u003e \u003cp\u003eInvestor accounting.\u003c\/p\u003e \u003cp\u003eOther securitization accounting standards.\u003c\/p\u003e \u003cp\u003eServicing rights and QSPE amendments.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e28. Regulation AB: Securities regulation on asset-backed securities.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003e29. Regulatory and economic capital in securitization.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe regulator’s concerns.\u003c\/p\u003e \u003cp\u003eBackground of regulatory concerns.\u003c\/p\u003e \u003cp\u003eOverview of Basle-II norms.\u003c\/p\u003e \u003cp\u003eBasic approach to securitization.\u003c\/p\u003e \u003cp\u003ePre-requisites for regulatory relief.\u003c\/p\u003e \u003cp\u003eGeneric principles of securitization.\u003c\/p\u003e \u003cp\u003eCapital rules under standardized approach.\u003c\/p\u003e \u003cp\u003eInternal ratings-based approach.\u003c\/p\u003e \u003cp\u003eU.S. regulatory requirements: Historical.\u003c\/p\u003e \u003cp\u003eBasle IA.\u003c\/p\u003e \u003cp\u003eFSA UK’s guidelines for capital relief.\u003c\/p\u003e \u003cp\u003eEU capital directive.\u003c\/p\u003e \u003cp\u003eRegulatory requirements in other countries.\u003c\/p\u003e \u003cp\u003eSecuritization and economic capital.\u003c\/p\u003e \u003cp\u003e\u003cb\u003e30. Investing in securitization instruments.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart V: Investing in Asset-backed Securities.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDistinguishing between securitization instruments and other fixed income investments.\u003c\/p\u003e \u003cp\u003eInvestors’ concerns in securitization investments.\u003c\/p\u003e \u003cp\u003ePerformance of securitization investments.\u003c\/p\u003e \u003cp\u003eEvaluation of an ABS investment.\u003c\/p\u003e \u003cp\u003eIndex.\u003c\/p\u003e \u003cp\u003eTables of Cases.\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Finance \u0026amp; accounting [\u003ca title=\"See our other books on Finance \u0026amp; accounting\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Finance%20\u0026amp;%20accounting%20%5BKF%5D%22\"\u003eKF\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley","offers":[{"title":"Brand New","offer_id":52278029615384,"sku":"9780470821954","price":123.39,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9780470821954.jpg?v=1781456726","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/securitization-the-financial-instrument-of-the-future-hardback-9780470821954","provider":"Freshly Printed Books","version":"1.0","type":"link"}