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New York Institute of Finance

Overview of Structured Products

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Description

Overview of structured products including advantages issuers and investors can receive from investing in these complex securities, risks that can arise, and recent regulatory changes.

CURRICULUM

Day 1

MODULE 1: SIZE AND SCOPE OF THE MARKET

  • Identify mechanics of Structured Products
  • Issuers' and investors' appetite for structured products
  • Identify why issuers create structured products
  • Understand investor interest in structured products

MODULE 2: UNDERSTANDING THE ASSET CLASSES OF ASSET-BACKED SECURITIES

  • Understand ABS ratings for a broad range of asset types:
  • Revolving consumer assets (Credit Cards)
  • Synthetic securities
  • Operating assets
  • Future flows
  • Auto loans and leases
  • Manufactored housing
  • Student loans

MODULE 3: COMMERCIAL MORTGAGE-BACKED SECURITIES

  • Commercial Mortgage-Backed Securities include:
  • Conduit fusion
  • Floating rate
  • Single borrower
  • CRE CDO backed by loans and commercial properties

MODULE 4: RESIDENTIAL MORTGAGE-BACKED SECURITIES

  • Residential MBS covers a broad range of collateral-backed transactions:
  • Covered bonds
  • Prime jumbo
  • Alternative A (Alt A)
  • Subprime mortgage loans

Day 2

MODULE 1: ROLE/FUNCTION:

  • Special purpose vehicle

MODULE 2: IDENTIFY MECHANICS OF

  • Popular structured products

MODULE 3: CREDIT ENHANCEMENTS

  • Excess Spread
  • Tranching
  • Insurance
  • Over-Collateralization

MODULE 4: RISK MODELING

  • Basics of default dependence
  • Role of rating agencies/ Ratings modeling
  • CDO Risk measures

WHAT YOU'LL LEARN

THOROUGH COVERAGE OF CORE CONCEPTS AND RANGE OF LINKED ASSET CLASSES

  • Compare and contrast mechanics and risks of structured products
  • Define the role of structured product vehicles
  • Demonstrate a practical understanding of the core concepts behind structured products
  • Demonstrate a practical understanding of the core concepts behind structured products
  • Develop an understanding for the range of asset classes that are linked to structured products

PREREQUISITES

  • Basic understanding of financial market asset classes

Who should attend

  • Traders
  • financial analysts
  • securitization market practitioners
  • corporate financiers
  • treasurers and risk managers
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