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1. Asset Securitization Version 2.0 - A Library of 28 Courses
 
  1. Overview
 
This course gives an introduction to asset securitization and its process and the different entities involved in securitization. It helps the user understand:
  • Process of asset securitization
  • Cash flows in asset securitization
  • Benefits to different entities in Asset securitization
  • Global scenario of asset securitization
Duration: 2-3 hours
 
  2. Credit Enhancement
 
Topics covered include:
  • Fundamentals of credit enhancement
  • Types of credit enhancement
  • Companies providing credit enhancement
  • Calculating credit enhancement
Duration: 2-3 hours
 
  3. Ratings Approach to Asset Securitization
 
This course explains the process of rating the asset backed securities. It helps the user understand:
  • Credit rating in asset securitization
  • Various concerns of rating agencies
  • A generalized approach used by rating agencies
Duration: 2 hrs
 
  4. Residential Mortgage Backed Securities-Basics
 
Topics covered include:
  • Basics of Mortgage backed securities
  • Federally sponsored mortgage securities
Duration: 1 hrs
 
  5. Residential Mortgage Backed Securities-Prepayments
 
Topics covered include:
  • Concept of prepayment
  • Different prepayment standards
Duration: 1 hrs
 
  6.Residential Mortgage Backed Securities-Basic Structures
 
Topics covered include:
  • Pass Through Securities
  • Pay Through Securities
Duration: 1 hrs
 
  7. Residential Mortgage Backed Securities-Basic Structures
 
This course gives an introduction to Mortgage Backed Securities (MBS) and its features.Topics covered include:
  • Planned Amortization Class
  • Targeted Amortization Class
  • Stripped Mortgage Backed Securities
  • Floaters
  • CMO Residuals
Duration: 1 hrs
 
  8. Mortgage Backed Securitization (Commercial)
 
This course gives an introduction to Commercial Mortgage Backed Securities (CMBS) and its features. Topics covered include:
  • Differences between residential and commercial mortgages
  • Elements and features of a typical CMBS
  • Commercial loan evaluation and rating process
Duration: 2 -3 hrs
 
  9. Auto Loan Receivables Securitization
 
This course gives an introduction to Auto Loan Receivables Securitization and its structure. Topics covered include:
  • Types of auto loans originated and securitized
  • Structure of auto loan backed securities
  • Features of trust structures
  • Rating process in auto loan securitization
  • Significant aspects of securitization for first time securitizers
Duration: 2-3 hours
 
  10. Credit Card Receivables Securitization
 
This course gives an introduction to Credit Card Receivables Securitization and its process and features.Topics covered include:
  • Fundamentals of Credit Card Receivables
  • The structure of Credit Card Receivables transaction
  • Securitization process
  • Various measures of maturity
  • Concepts of Interchange and Early Amortization
  • Rating process for credit card receivables securitization
Duration: 2 hours
 
  11. Collateralized Debt Obligations
 
This course gives an introduction to Collateralized Debt Obligations (CDOs).Topics covered include:
  • Fundamentals of CDOs
  • Balance Sheet Vs. Arbitrage CDOs
  • Cash Flow Vs. Market Value Structures
  • Synthetic Structures
  • Motivations behind CDOs
  • Rating Process
  • Role of Asset Manager
  • Distinction between CBOs and CLOs
Duration: 3 hours
 
  12. Case Studies (CDOs, CLOs, CBOs)
 
This course explains the practical aspects of collateralized obligations, its structure and design with the help of case studies. It discusses the following case studies:
  • Jubilee CDO I B.V.
  • ROSE Transaction
  • SBC Glacier Transaction
  • Panther CDO II B.V.
Duration: 3 Hours
 
  13. Future Flow Receivables Securitization
 
Topics covered include:
  • The basics of future flow receivables securitization
  • Reasons for future flow receivables securitization
  • Risks involved
  • Securitization of airline ticket receivables
  • Securitization of export receivables
Duration: 2- 3 hours
 
  14. Home Equity Loans
 
This course explains Securitization of Home Equity Loans with case studies. It helps the user understand:
  • Fundamentals of Home Equity Loans
  • Types of Home Equity Loans
  • Pros & Cons of Home Equity Loans
  • Securitization of Home Equity Loans
  • Structures based on credit enhancement
Duration: 2- 3 hours
 
  15. Insurance Risk Securitization-I
 
Topics covered include:
  • Concepts underlying Insurance Risk Securitization
  • Insurance Loss Indices
  • Instruments of Insurance Risk Securitization
  • Weather Risk Securitization
  • Advantages and disadvantages of Insurance Risk Securitization
Duration: 2- 3 hours
 
  16. Insurance Risk Securitization-II
 
This course gives an introduction to the concept of Catastrophe (CAT) Bonds and the process.Topics covered include:
  • CAT Bonds
  • Issuance of CAT Bonds
  • Probabilities and Cash Flows of CAT Bonds
  • Types of Insurance Risk Structures
Duration: 2- 3 hours
 
 
  17. Case Studies (Non-Performing Loans)
 
This course gives an introduction to securitization of non-performing loans. It discusses the following case studies:
  • Korea Asset Funding 2000-1 Limited (KAMCO)
  • Ariosto S.r.l
  • Danaharta
  • Japan II Ltd.
 
  18. Case Studies (Different Products)
 
This course introduces the user to a few other products that can be securitized. It deals with case studies of products like:
  • Trade receivables securitization
  • Equipment lease securitization
  • Inventory securitization
  • Dealer floorplan receivables securitization
Duration: 2- 3 hours
 
  19. Case Studies (Asia and Australia)
 
This course discusses the following case studies from Asia and Australia:
  • LG Card
  • Pemex Finance Ltd.
  • RAMS Mortgage Corp. Ltd. Series 11
  • Series 2002-1G Medallion Trust
Duration: 2 hours
 
  20. Case Studies (North America and Europe)
 
This course discusses the following case studies from North America & Europe,the largest markets in terms of securitization:
  • Wells Fargo Student Loans Receivables I LLC
  • BEC Funding LLC
  • Ares Finance S.r.l.
  • LIBRAVOU FL3
Duration: 2- 3 hours
 
  21. Healthcare Receivable Securitization
 
This course gives an introduction to securitization of healthcare receivables securitization. It discusses the following:
  • Concepts of healthcare receivables
  • The case of National Century Financial Enterprise
 
  22. Asset Backed Commercial Paper
 
This course gives an introduction to Asset Backed Commercial Paper (ABCP) conduits. It helps the user understand:
  • Fundamentals of ABCP conduits
  • Key parties to a transaction
  • The risks faced by ABCP investors and methods to mitigate them
  • Assets securitized through ABCP conduits
  • Legal issues associated with ABCP conduits
Duration: 2 hours
 
  23. Project Management
 
Topics covered include:
  • An outline of various components of a basic asset securitization policy statement
  • Project Plan for Credit Card Responsibility Delegation
  • Project Plan for Auto Loans Responsibility Delegation
Duration: 1.5 hours
 
  24. Risk Management
 
Topics covered include:
  • The risks involved in asset securitization
  • Nature of these risks
  • Methods to manage each risk
  • General risk management measures
  • Risk-based capital requirements
Duration: 2- 3 hours
 
  25. Legal Aspects
 
Topics covered include:
  • The importance of ownership and title to the collateral involved in securitization transactions
  • The importance of establishing priority in having recourse against the collateral
  • The bankruptcy issues and the consequent reforms in the United States
  • The procedures for ABS issue as under the United States laws
  • The UN convention on Assignment of Receivables
 
  26. Accounting
 
This course discusses the accounting aspect of asset securitization and the laws governing this issue. It helps the user understand:
  • Accounting for Asset Securitization under FAS 140
  • Sale and loan treatment
  • Gain or loss on sale accounting
  • Investor Accounting
  • Bank Regulatory Capital Relief
  • International Accounting Standard: IAS 39
Duration: 2 hours
 
  27. Tax
 
Topics covered include:
  • Taxation of different participants in the securitization process
  • Tax issues in select countries
  • Applicability of Withholding Tax
  • Relevant aspects of The U.S. FASIT Law
Duration: 2- 3 hours
 
  28. Supervision
 
Topics covered include:
  • Office of the Comptroller of the Currency
  • Federal Deposit Insurance Corporation
  • Federal Reserve System
  • Interagency guidance on asset securitization activities
Duration: 2- 3 hours
 
  Disclosures
  Regulations
  Measurement Tools
  Policy Template
  Global Best Practices
  Prospectuses
  Benchmarking Data
2. Credit Derivatives - A Library of 23 Courses
  1. Overview to Credit Derivatives
 
This course familiarizes the user with:
  • Credit derivatives market
  • Basic instrument types of credit derivatives
  • Its main applications
  • Pricing and regulatory issues
 
  2. Credit Risk
 
This course is an introduction to the concept of credit risk, which is basic to the understanding of credit derivatives. It includes:
  • Basics of credit risk
  • Quantitative measurement techniques
  • Pricing of credit risk
  • Comparison of models for credit risk
  • Applications of Credit Derivatives
 
  3. Credit Rating Dynamics
 
Topics covered include:
  • Rating process from the perspective of major rating agencies
  • Analysis of implications for credit derivatives
  • Analysis of risks involved
 
  4. Emerging Markets
 
This course updates the user on the development of credit derivatives in emerging markets. It covers the following:
  • Status of credit derivatives market within emerging markets
  • Risks involved in emerging markets and how credit derivatives can alleviate them
  • A few credit derivative structures in an emerging market framework
 
  5. Classic Credit Derivatives
 
This course gives a description of the classic structures of credit derivatives. It explains the following structures:
  • Credit Guarantees
  • Revolving Credit
  • Repos
  • Asset Swaps
 
  6. Total Return Swaps
 
Topics covered include:
  • Basic structure of total return swap agreements
  • Various applications of such instrument
  • Benefits to various parties
  • Issues affecting bank regulatory capital
  • Pricing related issues
 
  7. Structured Notes
 
This course provides an introduction to Credit Linked Notes. It helps the user understand:
  • Need, nature and types of Credit-linked Notes
  • Structures and advantages
  • Unique features of these structures
  • Variations possible from the basic structure
 
  8. Repackaged Notes
 
This course enables the user to understand:
  • Concept of repackaged notes
  • Comparison with other structures
  • Structures an designs
  • Various strategies adopted for repackaging
 
  9. Credit Portfolio Securitization Structures
 
This course provides details of various credit portfolio securitization structures. It helps the user understand:
  • Nature and types of collateralized bond and loan obligations
  • Differences among them
  • Synthetic structures
  • Key areas of risk
  • Regulatory capital issues
 
  10. Case Studies for CPSS
 
This course discusses the following case studies for credit portfolio securitization structures:
  • Rose
  • Nations Bank Commercial Loan Master Trust
  • CORE
  • Glacier
  • Bistro
  • Eisberg Finance Ltd.
  • C Star
 
  11. Credit Default Swaps
 
Topics covered include:
  • Main features of credit default swaps
  • Pricing issues
  • Various structure types
  • Uses, advantages and disadvantages
 
  12. Case Studies for Credit Default swaps
 
This course discusses various case studies related to credit default swaps. These include:
  • H.K Synthetic Deal
  • The Fourth Promise Securitization Programme
 
  13. Credit Spread Options
 
Topics covered include:
  • Basics of Credit Spread options
  • Credit Spread Puts
  • Credit Spread Calls
  • Credit Spread Collars
  • Credit Spread Forwards
 
  14. Bank and Institutional Applications
 
This course discusses the application of credit derivatives for active management of bank loan portfolio. It helps the user understand:
  • Credit Portfolio Management through Credit Derivatives
  • Portfolio Credit Default Swaps
  • Synthetic Securitization
  • A case study – BISTRO (Broad Index Secured Trust Offering)
 
  15. Investor Applications
 
This course discusses various investment applications of credit derivatives. It covers the following:
  • Creating synthetic credit exposure resembling a corporate bond
  • Credit overlays and their use
  • Leverage in credit derivatives
  • Creating structures with desired risk profiles
 
  16. Corporate Applications
 
This course discusses the applications of credit derivatives for corporates. It covers the following:
  • Existence of credit risk in corporate portfolio
  • Uses of credit derivatives as a tool for transferring credit risk
  • Present users of credit risk
 
  17. Pricing Credit Derivative Instruments
 
This course describes in brief the techniques used for pricing credit derivatives. It helps the user understand:
  • Theoretical models for pricing credit derivatives
  • Pricing of default swaps
  • Asset swap approach
  • Pricing of credit spread options
 
  18. Risk involved in Credit Derivatives
 
This course discusses various risks involved in using credit derivatives like credit risk, reputation risk, liquidity risk, transaction risk, compliance risk, legal and regulatory risk, counterparty risk, and pricing risk. It also covers principles of risk management
 
  19. Documentation
 
This course discusses the issues related to documentation in credit derivatives. It covers the following:
  • ISDA and The Master Agreement
  • ISDA objectives and benefits of standard documentation
  • Definitions in line with ISDA Documentation
  • Applicability of Credit Definitions
 
  20. Regulations
 
This course details various regulations related to credit derivatives. It helps the user understand:
  • Regulations related to both funded and unfunded credit derivatives
  • Treatment of credit derivatives in the trading book
  • The New Capital Adequacy Framework
  • Variations in the treatment of specific issues in different jurisdictions
 
  21. Legal Issues
 
This course helps the user understand:
  • Evolving legal issues concerning credit derivatives
  • Applicability of some statutory laws to credit derivative transactions
  • How related legal aspects are dealt with in the U.S. and three European nations
 
  22. Accounting
 
This course gives an introduction to the general accounting principles for credit derivatives. It covers the following:
  • General principles of derivatives accounting under FAS 133
  • Accounting for Credit Derivatives using
    • Fair-Value Hedge Accounting, and
    • Cash Flow Hedge Accounting
  • Examples of Total Return Swaps and Credit Default Swaps
 
  23. Taxation
 
This course discusses the US federal income tax considerations of:
  • Total return swaps
  • Default swaps and
  • Credit-linked notes
  • Credit Spread Options
 
  Disclosures
  Regulations
  Financial calculators
  Policy Template
  Benchmarking Data
  Global Best Practices
 
 

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