Introduction to Structured Finance
Frank J. Fabozzi Series
1. Auflage November 2006
400 Seiten, Hardcover
Wiley & Sons Ltd
Kurzbeschreibung
Structured finance involves the creation of tailor-made securities that go beyond garden-variety of financial instruments such as loans, debt, or equity. With this book, the trusted author team of Frank Fabozzi, Henry Davis, and Moorad Choudhry offers readers information on a wide array of structured finance techniques--all in one comprehensive and up-to-date volume. Introduction to Structured Finance contains a broad view of structured finance that includes securitization, structured credit portfolios, structured notes, synthetic funding structures, project financing, and complex leasing transactions. The fundamentals of interest rate derivatives and credit derivatives are explained so that the reader can appreciate how and why they are used in structured finance.
Structured finance is a term that covers a very wide range of financial market transactions and products. While a common definition of it seems to center on securitization, structured financial products also include credit derivatives, bonds with embedded options, leveraged leasing, project financing, and a variety of other complex financing transactions.
Created by the experienced author team of Frank Fabozzi, Henry Davis, and Moorad Choudhry, Introduction to Structured Finance examines the essential elements of this discipline and makes them understandable to a wide audience--from professionals generally familiar with the world of finance who want to enhance their technical knowledge to specialists in some structured finance disciplines who want to become more familiar with others.
Written in a straightforward and accessible style, this comprehensive guide--along with its information-packed appendices--contains a broad view of structured finance that includes:
* Securitization
* Interest rate derivatives (such as options, caps, and floors)
* Credit derivatives (such as asset swaps and total return swaps)
* Securitized and synthetic funding structures
* Cash and synthetic collateralized debt obligations (CDOs)
* Credit-linked notes and structured notes
* Complex leasing transactions
* Project financing
Structured finance plays an important and growing role in today's financial markets. Indeed, a large part of financial innovation in recent years has been related to securitization, credit derivatives, or a combination of the two. Introduction to Structured Finance offers a well-rounded treatment of this dynamic discipline, a convenient reference covering all the important transaction types in one place, and an excellent opportunity to enhance your financial skills.
About the Authors.
Chapter 1: Introduction.
Chapter 2: Interest Rate Derivatives.
Chapter 3: Credit Derivatives.
Chapter 4: Basic Principles of Securitization.
Chapter 5: Securitization Structures.
Chapter 6: Cash Flow Collateralized Debt Obligations.
Chapter 7: Synthetic Collateralized Debt Obligation Structures.
Chapter 8: Securitized and Synthetic Funding Structures.
Chapter 9: Credit-Linked Notes.
Chapter 10: Structured Notes.
Chapter 11: Large Ticket Leasing: Leasing Fundamentals.
Chapter 12: Leveraged Lease Fundamentals.
Chapter 13: Project Financing.
APPENDIX A: The Basel II Framework and Securitization.
APPENDIX B: Synthetic Securitization: Case of Mortgage-Backed Securities.
APPENDIX C: Home Run! A Case Study of Financing the New Stadium for the St. Louis Cardinals (Cynthia A. Baker and J. Paul Forrester).
APPENDIX D: Municipal Future-Flow Bonds in Mexico: Lessons for Emerging Economies (James Leigland).
APPENDIX E: Crown Castle Towers LLC, Senior Secured Tower Revenue Notes, Series 2005-1 (Taimur Jamil).
APPENDIX F: MVL FIlm Finance LLC (Olga Filipenko).
APPENDIX G: Presale: Honda Auto Receivables 2006-1 Owner Trust (Amanda M. Soriano and Nadine E. Gunter).
APPENDIX H: Presale: ACG Trust III (Anthony Nocera, Ted Burbage, Philip Baggaley, and Michael K. Vernier).
APPENDIX I: CNH Equipment Trust 2006-A (Du Trieu, Bradley Sohl, Joseph S. Tuczak, and Peter Manofsky).
APPENDIX J: CIT Equipment Collateral 2006-VT1 (Brigid E. Fitzgerald, John Bella, and Peter Manofsky).
INDEX.
HENRY A. DAVIS, MBA, is an editor, writer, and consultant working in the fields of banking and corporate finance. He currently serves as Editor of two quarterly professional journals, the Journal of Structured Finance and the Journal of Investment Compliance.
MOORAD CHOUDHRY is Head of Treasury at KBC Financial Products in London. Previously, he worked at JPMorgan Chase Bank, where he was a vice president of structured finance services sales and marketing.
