A comprehensive online guide to key concepts in Asset Securitization
The themes of this course are:
- The Securitization Process
- Cash Flow Modeling
- Credit Analysis and Structuring in Mortgage-backed Securities
- Traditional and Emerging Market CDOs
- Case Studies from different countries
- Global Best Practices
Course Overview:
Asset Securitization (AS) has revolutionized the field of finance. It provides an opportunity for financial institutions to enhance liquidity, generate fee-based income and optimize the usage of capital. It can be a source of competitive financing for corporations. For investors, securitized assets offer additional investment opportunities with different risk/return trade-offs.After completing this course you will be conversant with the use of AS to:
Develop a conceptual framework for Asset Securitization
Analyze the factors that influence pricing of Asset-backed Securities
Review the Rating Agency's perspective on Asset Securitization
Evaluate the alternative structures for Credit Enhancement
Analyze the products and structures of several real-life examples of Securitization
Understand various other aspects such as Legal, Accounting, Tax and Supervision
Target Audience:
Every professional involved in the global financial services industry (as a provider, user, regulator or advisor of product/services, marketplace/exchange) would benefit from our innovative learning solutions.
Supervisory Agencies
Central Banks
Financial Institutions
Commercial Banks
Investment Banks
Housing Societies/Thrifts
Mutual Funds
Brokerage Houses
Stock Exchanges
Derivatives Exchanges
Insurance Companies
Multinational Corporations
Accountancy Firms
Consultancy Firms
Law Firms
Rating Agencies
Multi-lateral Financial Institutions
Others
Course Level and Number of Courses:
Advanced Level
Library of 28 Courses
Instructional Method:
Dynamic, Interactive e-learning
Recommended Background:
Familiarity with basic financial concepts
The themes of this course are:
- The Securitization Process
- Cash Flow Modeling
- Credit Analysis and Structuring in Mortgage-backed Securities
- Traditional and Emerging Market CDOs
- Case Studies from different countries
- Global Best Practices
Course Overview:
Asset Securitization (AS) has revolutionized the field of finance. It provides an opportunity for financial institutions to enhance liquidity, generate fee-based income and optimize the usage of capital. It can be a source of competitive financing for corporations. For investors, securitized assets offer additional investment opportunities with different risk/return trade-offs.After completing this course you will be conversant with the use of AS to:
Develop a conceptual framework for Asset Securitization
Analyze the factors that influence pricing of Asset-backed Securities
Review the Rating Agency's perspective on Asset Securitization
Evaluate the alternative structures for Credit Enhancement
Analyze the products and structures of several real-life examples of Securitization
Understand various other aspects such as Legal, Accounting, Tax and Supervision
Target Audience:
Every professional involved in the global financial services industry (as a provider, user, regulator or advisor of product/services, marketplace/exchange) would benefit from our innovative learning solutions.
Supervisory Agencies
Central Banks
Financial Institutions
Commercial Banks
Investment Banks
Housing Societies/Thrifts
Mutual Funds
Brokerage Houses
Stock Exchanges
Derivatives Exchanges
Insurance Companies
Multinational Corporations
Accountancy Firms
Consultancy Firms
Law Firms
Rating Agencies
Multi-lateral Financial Institutions
Others
Course Level and Number of Courses:
Advanced Level
Library of 28 Courses
Instructional Method:
Dynamic, Interactive e-learning
Recommended Background:
Familiarity with basic financial concepts
Course Content
Asset Securitization CoursesTime taken to complete each Course: Two - Three hours
1.Overview
Objectives
Introduction
Process of Asset Securitization
Cash Flows in Asset Securitization
Motives for Asset Securitization
Global Scenario
2.Credit Enhancement
Objectives
Fundamentals of Credit Enhancement
Internal Credit Enhancement
External Credit Enhancement
Calculating Credit Enhancement
3.Ratings Approach to Asset Securitization
Objectives
Concepts
Concerns
Rating Process
Rating Agencies
4. Residential Mortgage Backed Securities-Basics
Basics of Mortgage backed securities
Federally sponsored mortgage securities
5. Residential Mortgage Backed Securities-Prepayments
Concept of prepayment
Different prepayment standards
6. Residential Mortgage Backed Securities-Basic Structures
Pass Through Securities
Pay Through Securities
7. Residential Mortgage Backed Securities-Basic Structures
Planned Amortization Class
Targeted Amortization Class
Stripped Mortgage Backed Securities
Floaters
CMO Residuals
8. Mortgage-backed Securitization (Commercial)
Objectives
Introduction
Features of a CMBS transaction
Loan Evaluation and Rating Process
Case Studies
9. Auto Loan Receivables Securitization
Objectives
Introductory Concepts
Types of Loans
Auto Loan backed Securities Structure
Rating Process
Securitization for the First Time
Case Study
10. Credit Card Receivables Securitization
Objectives
Fundamentals of Credit Cards
Credit Card Securitization Process
Phases in Securitization and Trust Structures
Amortization Structures
Measures of Maturity and Early Amortization
Rating Process
Case Studies
11. Collateralized Debt Obligations (CDOs)
Objectives
Fundamentals
Types of CDOs
Synthetic CDOs
Different Periods for CDO
Rating Process
Role of Collateral Manager
CBOs Vs. CLOs
12. Case Studies (CDOs,CLOs,CBOs)
Objectives
Jubilee CDO I B.V.
ROSE Transaction
SBC Glacier Transaction
Panther CDO II B.V.
13. Future Flow Receivables Securitization
Objectives
Introduction to Future Flow Securitization
Reasons for Future Flow Securitization
Risks Involved
Securitization of Airline Ticket Receivables
Securitization of Export Receivables
Case Study
14.Home Equity Loans
Objectives
Introduction to Home Equity Loans
Types of Home Equity Loans
Pros and Cons of Home Equity Loans
Securitization of Home Equity Loans
Structures based on Credit Enhancement
Case Study - 1
Case Study - 2
15. Insurance Risk Securitization-I
Objectives
Concepts and Origin
Insurance Loss Indices
Instruments for Insurance Risk Securitization
Weather Risk Securitization
Analyzing Risk Securitization
16. Insurance Risk Securitization-II
Objectives
Catastrophe Bonds
Issuance of CAT Bonds
Insurance Risk Structure
17. Case Studies (Non-Performing Loans)
Objectives
Introduction
KAMCO
Ariosto s.l.r
Danaharta
Japan II Ltd.
18. Case Studies (Different Products)
Objectives
Trade Receivables Securitization
Equipment Lease Securitization
Inventory Securitization
Floor Plan Receivables Securitization
19. Case Studies (Asia & Australia)
Objectives
LG Card
Hanareum International Funding
RAMS Mortgage Corp. Ltd. Series 11
Series 2002-1G Medallion Trust
20. Case Studies (North America & Europe)
Objectives
Student Loans Securitization
Electricity Receivables Securitization
Defaulted Loans Securitization
Consumer Loans Securitization
21. Healthcare Receivable Securitization
Objectives
Introduction
National Century Financial Enterprise
22. Asset-backed Commercial Paper
Objectives
Introduction
Key Parties Involved
Risk Mitigation
Assets Securitized through ABCP Conduits
Legal Aspects of an ABCP Conduit
Market Scenario
23.Project Management
Objectives
Policy Statement
Project Plan for Credit Cards Receivables
Project Plan for Auto Loans Receivables
24. Risk Management
Objectives
Introduction
Types of Risks
Types of Risks (Cont.)
General Risk Management Measures
Risk-based Capital
25. Legal Aspects
Objectives
Introduction
Secured transaction
Perfection, Priority and Enforcement
Bankruptcy Issues
Securities Regulations
UN Convention on the Assignment of Receivables
26. Accounting
Objectives
Fundamentals of Accounting under FASB 140
Determining Gain or Loss on Sale
Investor Accounting-EITF 99-20
Bank Regulatory Capital Relief
International Accounting Standards
27. Tax
Objectives
Introduction
Tax Treatment of Participants
Withholding
Taxation in Different Countries
The U.S. FASIT Law
28. Supervision
Objectives
Introduction
Guidelines from Various Agencies
JOB AIDS
Disclosures
Regulations
Measurement Tools
Policy Templates
Global Best Practices
Prospectuses
Benchmarking Data
