Asset Securitisation for Lawyers

At the end of this course delegates should have an understanding of the development of this product, its alternative structures and the reasons for its growth. In addition, delegates will be able to identify the risks in this activity.

Course Content:

Principles of Asset-Backed Securities (ABSs)
 The history of the development of ABSs.
 Agency participation certificates

Reasons for creating Asset Backed Securities
 Need for investment uplift
 Greater awareness of credit risk
 Better tools to assess credit risk
 Perceived opportunities for arbitrage
 Need to diversify and / or dissipate credit risk

Features and Procedures of Securitisation
 Cash flows of US fixed rate mortgages.
 Private label pass-through structures
 Mortgage prepayment option
 Yield, average life and duration calculations
 Creating & managing the pool
 Top-up and Substitution procedures
 Conduit structures, Special Purpose Vehicles / Entities (SPVs & SPEs)
 Using short term assets in ABSs
 Application to auto loans, credit cards, trade receivables
 “Whole-business” securitisations

Delivery:	Classroom
Regions:	London
Category:	Asset Management