Equity Capital Markets:
Visiongain
Management Report June 2004
Table of Contents
This report provides the definitive insight into the securitisation market, charting securitisation from its most basic definition, objectives and principles, to forecasting the behaviour of the mortgage- and asset-backed securities market, within Europe and the US. This unique discussion examines the structural framework of a securitisation arrangement and the role of all the parties’ privy to an arrangement, from the issuer, to the sponsor, trustee, SPV, banks and investors. The report provides a detailed discussion on the benefits of securitisation, from the off balance sheet privileges, risk transfer and risk diversification, to the heightened liquidity and reduced costs posed by the process. In the same vein, the report considers the shortcomings of securitisation financing, the extent to which it can obscure the balance sheet and profit and loss statement, over-complicate the financial structure of a company, and generate additional risk exposures. ‘Securitisation’ then reverts from the qualitative to the quantitative, providing a detailed breakdown of mortgage- and asset-backed securities, from the processes and structures underlying these forms of securitisation, the history behind their development and the classification of assets that make up their constitution. Within these categories, this report consolidates and analyses the most reliable figures, pertaining to securitisation in the US in the form of: • The issuance of agency MBS securities; • The outstanding volume of agency MBS securities; • The issuance of agency CMOs; • The outstanding volume of agency CMOs; • The Average daily volume of agency MBS; • The Outstanding mortgage debt according to type of mortgage and holder; and • Outstanding ABS according to types of credit. In addition, this report compiles the latest statistics relating to European securitisation, in the form of: • European securitisation issuance; • European ABS/MBS spreads to Euribor; • European issuance according to collateral type; CDOs, receivables, credit cards, consumer and auto loans; and • European issuance broken down according to region, and • Forecast predictions of securitisation issuance according to collateral type and region. 300 pages packed full of tables, analysis, charts and diagrams dealing exclusively with the securitisation and your role within this market. Order your copy today to ensure you remain up-to-date and fully informed.
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