Structured Finance
- Price: US$ 300.00
- Publisher: KESDEE
- Number of modules: 28
- Length: 50-70 hours
- Language: English
- Subscription: 12 months
Courses on Securitization, Credit Ratings and Complex Financial Instruments for Risk Transfer
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 use 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.
This course will give you the skills 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 aspects
The Asset Securitization Course has 28 Modules of 2 - 3 hours each.
1. Overview
- Process of Asset Securitization
- Cash Flows in Asset Securitization
- Motives for Asset Securitization
- Global Scenario
2. Credit Enhancement
- Fundamentals of Credit Enhancement
- Internal Credit Enhancement
- External Credit Enhancement
- Calculating Credit Enhancement
3. Ratings Approach to Asset Securitization
- 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 - Complex Structures
- Planned Amortization Class
- Targeted Amortization Class
- Stripped Mortgage Backed Securities
- Floaters
- CMO Residuals
8. Mortgage-Backed Securitization (Commercial)
- Features of a CMBS Transaction
- Loan Evaluation and Rating Process
9. Auto Loan Receivables Securitization
- Types of Loans
- Auto Loan-Backed Securities Structure
- Rating Process
- Securitization for the First Time
10. Credit Card Receivables Securitization
- Fundamentals of Credit Cards
- Credit Card Securitization Process
- Phases in Securitization and Trust Structures
- Amortization Structures
- Measures of Maturity and Early Amortization
- Rating Process
11. Collateralized Debt Obligations (CDOs)
- Fundamentals
- Types of CDOs
- Synthetic CDOs
- Different Periods of CDOs
- Rating Process
- Role of Collateral Manager
- CBOs Vs. CLOs
12. Case Studies (CDOs, CLOs, CBOs)
- Jubilee CDO I B.V.
- ROSE Transaction
- SBC Glacier Transaction
- Panther CDO II B.V.
13. Future Flow Receivables Securitization
- Introduction to Future Flow Securitization
- Reasons for Future Flow Securitization
- Risks Involved
- Securitization of Airline Ticket Receivables
- Securitization of Export Receivables
14. 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
15 and 16. Insurance Risk Securitization
- Concepts and Origin
- Insurance Loss Indices
- Instruments for Insurance Risk Securitization
- Weather Risk Securitization
- Analyzing Risk Securitization
- Catastrophe Bonds (CAT)
- Issuance of CAT Bonds
- Insurance Risk Structure
17. Case Studies (Non-Performing Loans)
- KAMCO
- Ariosto s.l.r
- Danaharta
- Japan II Ltd.
18. Case Studies (Different Products)
- Trade Receivables Securitization
- Equipment Lease Securitization
- Inventory Securitization
- Floor Plan Receivables Securitization
19. Case Studies (Asia & Australia)
- LG Card
- Hanareum International Funding
- RAMS Mortgage Corp. Ltd. Series 11
- Series 2002-1G Medallion Trust
20. Case Studies (North America & Europe)
- Student Loans Securitization
- Electricity Receivables Securitization
- Defaulted Loans Securitization
- Consumer Loans Securitization
21. Healthcare Receivable Securitization
- National Century Financial Enterprise
22. Asset-Backed Commercial Paper
- Key Parties Involved
- Risk Mitigation
- Assets Securitized through ABCP Conduits
- Legal Aspects of an ABCP Conduit
- Market Scenario
23. Project Management
- Policy Statement
- Project Plan for Credit Cards Receivables
- Project Plan for Auto Loans Receivables
24. Risk Management
- Types of Risks
- General Risk Management Measures
- Risk-Based Capital
25. Legal Aspects
- Secured transaction
- Perfection, Priority and Enforcement
- Bankruptcy Issues
- Securities Regulations
- UN Convention on the Assignment of Receivables
26. Accounting
- 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
- Tax Treatment of Participants
- Withholding
- Taxation in Different Countries
- The U.S. FASIT Law
28. Supervision
- Guidelines from Various Agencies
Job Aids on Asset Securitization
- Measurement Tools
- Disclosures
- Regulations
- Global Best Practices
- Benchmarking Data
- Policy Templates
- Prospectuses
Bonus: Calculators in Asset Securitization
1. Early Amortization
2. Calculating Return on Assets (ROA)
3. Conversion of Prepayment Rates
4. Convexity
5. CDO Cash Flows
6. Changes in Subordination Levels after Default
7. Default Loss
8. Loss Curves
9. Repossession
10. Loan to Value Ratio
11. Pass-Throughs
12. Pay-Throughs
13. Calculation of Credit Enhancement
14. Diversity Score Calculation
15. Accounting
16. Debt Service Coverage Ratio
17. Average Collateral Rating
18. Pricing Reinsurance Contract using CAT Bonds
19. Risk-Based Capital
20. Credit Cards - Cash Flow Structuring
