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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…mehr

Produktbeschreibung
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.

Among the critical features of contemporary securitisation covered are the following:
- Project finance CLOs
- Securitisation of equity risk
- Securitisation of commodity risk through commodity trigger swaps
- The convergence of structured credit and securitisation markets
- Innovation in RMBS: negative equity transactions
- Innovation in CMBS: A/B structure
- New markets in Europe, Japan, and Islamic countries
- Catastrophe risk securitisation
- Effect of recent US bankruptcy legislation on synthetics
- Microfinance loan securitisation in emerging markets
- Public sector securitisation
- Securitisable intellectual property
- Application of accounting standards in a rapidly changing environment
- Updated analysis of Basel II

The 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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