Securitisation of Derivatives and Alternative Asset Classes: Yearbook 2005

Přední strana obálky
Kluwer Law International B.V., 1. 1. 2005 - Počet stran: 502
Securitisation has survived the threats that emerged in the aftermath of the collapses of Enron, WorldCom, and Parmalat. Today, global securitisation markets continue to go from strength to strength, particularly as regards the evolution of new synthetic structures and the application of securitisation technology to fresh asset classes.

This Yearbook focuses on the latest innovations in securitisation, including the securitisation of derivatives and alternative asset classes, and also exotic variations on the securitisation of well-established asset classes. Twenty-nine distinguished authors all of them active in the global securitisation markets as advisers, structurers, facilitators, or regulators brilliantly elucidate such topics as the following:

synthetic squares as an effective means of arbitrage securitisation;collateralised debt obligations from a ratings perspective;use of, and potential for, synthetic securitisation in Germany and Italy;weather derivatives;use of equity derivatives as alternatives to credit risk;securitisation of alternative asset classes in Japan and the United States;covered bonds in a variety of European jurisdictions;new types of commercial mortgage backed securities;securitisation of non-performing tax receivables as an example of public sector securitisation; andsecuritisation structures in the Islamic regulatory and legal framework.

The complex and sometimes controversial¿issues of documentation are well covered, as are all significant legal and regulatory issues. Three concluding essays detail the recent changes in accountancy fuelled by perceived abuse of existing regulations, and the revised framework for capital adequacy formulated by the Basel Committee.

The Yearbook provides detailed information on the legal structure of innovative securitisations as well as recent developments in the accounting and regulatory treatment of securitisations. For legal advisers, investors, and regulators, there is no more useful guide to current and emerging trends and opportunities in securitisation.

 

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Obsah

1 Synthetic Squares or the Securitisation of Russian Dolls
1
2 Modelling Credit Risk in Synthetic CDO Squared Transactions
23
3 Synthetic Securitisation Platforms Established by KfW
43
the Current Issues and the Synthetic Route
49
Temperature Swaps and Windstorm Bonds
73
6 Equity Default Swaps and the Securitisation of Risk
89
7 Securitisation in Japan
117
8 Trends and Innovations in the US CDO Market
135
12 Commercial Mortgage Backed Securities in Europe
267
13 Securitisation of Private Equity
301
14 Public Sector Securitisation in Europe
317
15 Securitisation of Auto Leases in the Netherlands
337
16 Shariah Sukuk and Securitisation
361
The French Example
381
A World of Change
391
19 The Asset Securitisation Framework in Basel II
431

9 Covered Bonds in Europe
167
A New Method of Project Finance
207
11 Issues in CrossBorder CMBS
243
20 Regulatory Capital Standards for Securitisation in Basel II
457
Contributors
497
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