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Securitisation can be defined simply as a form of secured financing. It is not anything extraordinary, neither magical nor dangerous. Securitisation serves as an efficient technique for raising capital and transferring risk from originators of financial assets to the capital markets. Securitisation markets allow originators of credit to consumers and businesses to fund in an efficient and cost-effective manner. A wide range of assets such as auto loans, residential and commercial mortgages, or credit card receivables can collateralise asset backed securities sold to a broad range of domestic and international investors. The role of securitisation in the financial system is to serve as a compliment to the funding of the economy that is provided through the traditional banking system. Securitisation provides a means to diversifying the funding of a financial institution or to provide liquidity to either banks or corporates.
This unique Asset Securitisation course provides a highly detailed practical overview of this market covering the basic structures of RMBS, credit cards, auto loans and CMBS through to CLOs and the use of more advanced structured products which are used in the market. The programme includes the origination, structuring, pricing and trading of these instruments together with the rating process and an overview of the cashflow modelling of the transactions.
A detailed, practical guide to the opportunities and mechanics within Asset Securitisation.
The course will help you learn:
- How to recognise the optimum internal and external conditions and how to capitalise on them
- The importance of creating the right product for the right market
- The mechanics of the securitisation process – from origination and structuring through to pricing and
- The essential risk management techniques to utilise in securitisation
- What exactly went wrong during the worst of the credit crisis
- Practical credit enhancement techniques, including a review of credit enhancement decisions in recent deals
- How the world of securitisation changed as a result of the credit crunch and how you can exploit opportunities in the new market environment