Soundly structured securitisation is an important channel for diversifying funding sources of banks and leasing companies and to transfer risks from such originators to investors. In the case of public transactions, there has been a distinct improvement in the market in recent years and securitisation of loan portfolios to obtain refinancing from the ECB continues to play an important role for banks. Furthermore in the framework of the EU capital market union project the EU intends to pave the way for a rapid revival of the securitisation market with a new STS securitisation regulation. Although the goals of the new regulation is widely shared the outcome is still uncertain. But all in all: Securitisation
is a hot topic.
For everybody being involved it‘s important to be familiar with the topic area. That is the only way of structure quality products in a challenging environment or to properly understand such products. In addition, it is the only way of ensuring that staff are able to make sound, appropriate assessments of application possibilities and operating mechanisms and the risks and opportunities entailed. TSI’s comprehensive training in this field has already proved its worth many times over.
The main topics covered in the TSI Special Training:
- Market overview
- Important structural features
- Different asset classes with their specific characteristics, opportunities and risks
- Term and conduit securitisations
- Performance of securitisation transactions in the financial crisis
- Overview over the underlying civil law aspects and regulatory requirements for securitisations
- Regulatory distinction between securitisations and other transactions
- Performance analysis and rating from the perspective of rating agencies and investors
- Current ECB repo requirements and purchase programm
- Currently discussed new regulatory topics such as STS