Table of Contents

Foreword Preface Part I: Trends in the Securitisation Market Chapter 1: The boom in asset securitisation Krishna Prasad, Lehman Brothers Chapter 2: The way forward: Future trends for securitisation and structured products Rick Watson, Lead Editor Chapter 3: The changing profile of risk: Impact of Basel II on ABS issuance and investment Marcus Herrmann, HSBC Part II: Exploring ABS Structures Chapter 4: Legal structure of cash and synthetic structures Patrick Clancy, Shearman and Sterling Chapter 5: Regulatory impact of synthetic securitisation Dieter Glueder, KfW banking group Chapter 6: Tax considerations for consumer and whole business securitisations Michael Wistow, Clifford Chance Chapter 7: The accounting consequences Peter Jeffrey, PwC Chapter 8: The rating process for structured finance Jeremy Carter, Fitch Ratings Part III: Distribution - Is it Cheap or Expensive? Chapter 9: Exploring the investor base: Who buys and sells European ABS and why? Rob Ford, Barclays Capital Chapter 10: Converging developments in ABCP conduits and SIV markets Doug Long, Principia Partners Chapter 11: Markets for first loss and mezzanine risk Terri Duhon, B&B Structured Finance Ltd Part IV: Product Sector Reviews Chapter 12: Residential mortgage-backed securities Joseph Smallman, GMAC-RFC Securities and Shadi Salman Chapter 13: Auto loans and lease ABS Ralf Hesdahl and Stuart Litwin, Mayer, Brown, Rowe and Maw LLP Chapter 14: Cashflow CDOs Kate Birchall, CIBC Chapter 15: Arbitrage synthetic CDOs Loic Fery, Calyon Chapter 16: Whole business securitisations Robert Velins, FGIC Chapter 17: Value in-force securitisation Murray Wood, Lehman Brothers Chapter 18: Monoline insurer financial guarantees: Expanding the investor horizon Paul Severs, FGIC Chapter 19: Islamic securitisations: Opportunities with Sukuk Abdulkader Thomas, SHAPE Financial Corp Chapter 20: Emerging market securitisation Noel Edison, Standard Chartered