Collateralised Loan Obligations (Clos) - a Primer

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ISBN 13 :
Total Pages : 103 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Collateralised Loan Obligations (Clos) - a Primer by : Andreas (Andy) Jobst

Download or read book Collateralised Loan Obligations (Clos) - a Primer written by Andreas (Andy) Jobst and published by . This book was released on 2007 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt: The following descriptive paper surveys the various types of loan securitisation and provides a working definition of so-called collateralised loan obligations (CLOs). Free of the common rhetoric and slogans, which sometimes substitute for understanding of the complex nature of structured finance, this paper describes the theoretical foundations of this specialised form of loan securitisation. Not only the distinctive properties of CLOs, but also the information economics inherent in the transfer of credit risk will be considered, so that we can equally privilege the critical aspects of security design in the structuring of CLO transactions.

The Collateralised Loan Obligations

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ISBN 13 : 9780974078410
Total Pages : 101 pages
Book Rating : 4.0/5 (784 download)

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Book Synopsis The Collateralised Loan Obligations by : Andreas A. Jobst

Download or read book The Collateralised Loan Obligations written by Andreas A. Jobst and published by . This book was released on 2002 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: The following descriptive paper surveys the various types of asset-backed securitisation (ABS) and provides a working definition of so-called collateralised loan obligations (CLOs), which allows issuers to sell large portfolios of commercial loans and their attendant credit risk directly to capital markets. Free of the common rhetoric and slogans, which sometimes substitute for understanding of the complex nature of structured finance, we describe the theoretical foundations of this specialised form of loan securitisation. The paper considers not only the distinctive properties and benefits of CLOs, but also the information economics inherent in the transfer of credit risk, in order to equally privilege the critical aspects of security design affecting the structure of CLO transactions.

The Collateralised Loan Obligations (CLOs) - a Primer

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Publisher :
ISBN 13 : 9780974078410
Total Pages : 0 pages
Book Rating : 4.0/5 (784 download)

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Book Synopsis The Collateralised Loan Obligations (CLOs) - a Primer by : Andreas A. Jobst

Download or read book The Collateralised Loan Obligations (CLOs) - a Primer written by Andreas A. Jobst and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The following descriptive paper surveys the various types of asset-backed securitisation (ABS) and provides a working definition of so-called collateralised loan obligations (CLOs), which allows issuers to sell large portfolios of commercial loans and their attendant credit risk directly to capital markets. Free of the common rhetoric and slogans, which sometimes substitute for understanding of the complex nature of structured finance, we describe the theoretical foundations of this specialised form of loan securitisation. The paper considers not only the distinctive properties and benefits of CLOs, but also the information economics inherent in the transfer of credit risk, in order to equally privilege the critical aspects of security design affecting the structure of CLO transactions.

The Collateralised Loan Obligations

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Publisher :
ISBN 13 :
Total Pages : 101 pages
Book Rating : 4.:/5 (767 download)

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Book Synopsis The Collateralised Loan Obligations by : Andreas A. Jobst

Download or read book The Collateralised Loan Obligations written by Andreas A. Jobst and published by . This book was released on 2002 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Collateralized Debt Obligations

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Publisher : John Wiley & Sons
ISBN 13 : 0471718874
Total Pages : 533 pages
Book Rating : 4.4/5 (717 download)

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Book Synopsis Collateralized Debt Obligations by : Douglas J. Lucas

Download or read book Collateralized Debt Obligations written by Douglas J. Lucas and published by John Wiley & Sons. This book was released on 2006-05-05 with total page 533 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since first edition's publication, the CDO market has seen tremendous growth. As of 2005, $1.1 trillion of CDOs were outstanding -- making them the fastest-growing investment vehicle of the last decade. To help you keep up with this expanding market and its various instruments, Douglas Lucas, Laurie Goodman, and Frank Fabozzi have collaborated to bring you this fully revised and up-to-date new edition of Collateralized Debt Obligations. Written in a clear and accessible style, this valuable resource provides critical information regarding the evolving nature of the CDO market. You'll find in-depth insights gleaned from years of investment and credit experience as well as the examination of a wide range of issues, including cash CDOs, loans and CLOs, structured finance CDOs and collateral review, emerging market and market value CDOs, and synthetic CDOs. Use this book as your guide and take advantage of this dynamic market and its products.

Collaterised Loan Obligations (CLOs)

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Publisher :
ISBN 13 :
Total Pages : 65 pages
Book Rating : 4.:/5 (313 download)

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Book Synopsis Collaterised Loan Obligations (CLOs) by : Andreas A. Jobst

Download or read book Collaterised Loan Obligations (CLOs) written by Andreas A. Jobst and published by . This book was released on 2002 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Collateralized Loan Obligations (CLOs), Structure, Use, and Implementation of the Volcker Rule

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Publisher :
ISBN 13 :
Total Pages : 2 pages
Book Rating : 4.:/5 (111 download)

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Book Synopsis Collateralized Loan Obligations (CLOs), Structure, Use, and Implementation of the Volcker Rule by : Edward Vincent Murphy

Download or read book Collateralized Loan Obligations (CLOs), Structure, Use, and Implementation of the Volcker Rule written by Edward Vincent Murphy and published by . This book was released on 2014 with total page 2 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Collateralized Debt Obligations

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Publisher : John Wiley & Sons
ISBN 13 : 0471445614
Total Pages : 386 pages
Book Rating : 4.4/5 (714 download)

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Book Synopsis Collateralized Debt Obligations by : Laurie S. Goodman

Download or read book Collateralized Debt Obligations written by Laurie S. Goodman and published by John Wiley & Sons. This book was released on 2002-11-25 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: A practical guide to the features and investment characteristics of CDOs In the bond area, collateralized debt obligations, which include collateralized bond obligations and collateralized loan obligations, are the fastest-growing sector. Collateralized Debt Obligations: Structures and Analysis describes the various products in this area-cash flow CDOs, market value CDOs, synthetic CDOs, etc.-and explains how to evaluate them. With this book as their guide, investment managers and institutional investors alike will learn how to analyze the risks associated with CDOs, create a portfolio of CDO products, and assess trading opportunities in the secondary market.

Developments in Collateralized Debt Obligations

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Publisher : John Wiley & Sons
ISBN 13 : 0470135549
Total Pages : 304 pages
Book Rating : 4.4/5 (71 download)

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Book Synopsis Developments in Collateralized Debt Obligations by : Douglas J. Lucas

Download or read book Developments in Collateralized Debt Obligations written by Douglas J. Lucas and published by John Wiley & Sons. This book was released on 2007-05-04 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developments In Collateralized Debt Obligations The fastest growing sector of the fixed income market is the market for collateralized debt obligations (CDOs). Fostered by the development of credit default swaps (CDS) on all types of indexes of corporate bonds, emerging market bonds, commercial loans, and structured products, new products are being introduced into this market with incredible speed. In order to keep up with this dynamic market and its various instruments, you need a guide that provides you with the most up-to-date information available. That's why Douglas Lucas, Laurie Goodman, Frank Fabozzi, and Rebecca Manning have created Developments in Collateralized Debt Obligations. Filled with in-depth insights regarding new products, like hybrid assets in ABS CDOs and trust preferred CDOs, and detailed discussions on important issues-such as the impact of CDOs on underlying collateral markets-this book will bring you completely up to speed on essential developments in this field. Written in a straightforward and accessible style, Developments in Collateralized Debt Obligations will enhance your understanding of this ever-evolving market-and its numerous products.

Investing in Asset-Backed Securities

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Publisher : John Wiley & Sons
ISBN 13 : 9781883249809
Total Pages : 564 pages
Book Rating : 4.2/5 (498 download)

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Book Synopsis Investing in Asset-Backed Securities by : Frank J. Fabozzi

Download or read book Investing in Asset-Backed Securities written by Frank J. Fabozzi and published by John Wiley & Sons. This book was released on 2001-11-09 with total page 564 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of articles from various professionals, discussing the details of investing in asset-backed securities. Main topics addressed include non-real estate backed ABS, collateralized debt obligations, residential real-estate backed ABS, accounting, commercial mortgage backed securities, and analysis of ABS.

Collateralized Loan Obligations in the Financial Accounts of the United States

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Collateralized Loan Obligations in the Financial Accounts of the United States by : Matthew Guse

Download or read book Collateralized Loan Obligations in the Financial Accounts of the United States written by Matthew Guse and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This note describes how the Federal Reserve's Financial Accounts of the United States account for Collateralized Loan Obligations (CLOs) and discusses two new data series on CLOs that are introduced in the September 2019 publication of the Financial Accounts.

The Structured Credit Handbook

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Publisher : John Wiley & Sons
ISBN 13 : 0470100087
Total Pages : 544 pages
Book Rating : 4.4/5 (71 download)

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Book Synopsis The Structured Credit Handbook by : Arvind Rajan

Download or read book The Structured Credit Handbook written by Arvind Rajan and published by John Wiley & Sons. This book was released on 2007-03-31 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Structured Credit Handbook is a comprehensive introduction to all types of credit-linked financial instruments. This book provides state-of-the-art primers on single tranche collateralized debt obligations (CDOs), collateralized loan obligations (CLOs), credit derivatives (such as credit default swaps and swaptions), and iBoxx indexes. Filled with in-depth insight and expert advice, The Structured Credit Handbook covers all aspects of the synthetic arbitrage CDO market, including new instruments such as CDO2. Readers will also gain a firm understanding of the investment rationale, risks, and rewards associated with CDO investments through this valuable resource. The exploding use of credit derivatives and collateralized debt obligations (CDOs) has transformed the world of credit, creating an $18 trillion market almost overnight and resulting in innumerable investment and career opportunities globally. The Structured Credit Handbook provides the reader with a comprehensive and clear roadmap to today's new credit landscape. The full spectrum of structured credit products, from single-name CDS to CDOs, is explained in a simple, clear fashion that is free from the financial jargon and mathematical complexity which characterize many other derivative texts. The handbook begins with an in-depth explanation of the building blocks of the structured credit markets, single-name default swaps and indexes, and it culminates with complex products such as credit options, synthetic tranches, CDOs based on bank loans and asset-backed securities, and CDO-squareds. Written by experienced practitioners who have participated in this market since its infancy, each of the thirteen chapters introduces and analyzes a new product and explains its practical applications. A rich set of real-life case studies illustrate the application of each product in a concrete market setting. The book may be used in a semester-long course on structured credit as part of a business or finance curriculum. Whether you are a market professional, a university student or faculty member, or simply a financially savvy layperson, look no further for an up-to-date and thorough introduction to this rapidly growing and exciting field. Dr. Arvind Rajan, Managing Director, Citigroup Global Markets, is engaged in proprietary trading of Structured Credit products, and until recently, was global head of Structured Credit Research and Strategy at Citigroup. Glen McDermott (New York, NY) is Director of Fixed Income Sales and the former head of CDO Research at Citigroup Global Markets Inc. Ratul Roy is head of CDO Strategy for Citigroup Global Markets and has spent the prior nine years in structuring or analyzing CDOs and other structured credit products.

Investing in Collateralized Debt Obligations

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Publisher : John Wiley & Sons
ISBN 13 : 9781883249908
Total Pages : 252 pages
Book Rating : 4.2/5 (499 download)

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Book Synopsis Investing in Collateralized Debt Obligations by : Frank J. Fabozzi

Download or read book Investing in Collateralized Debt Obligations written by Frank J. Fabozzi and published by John Wiley & Sons. This book was released on 2001-05-15 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fastest growing sector of the asset-backed securities market is the collateralized debt obligation (CDO) market. CDOs are securities backed by a pool of diversified assets and are referred to as collateralized bond obligations (CBOs) when the underlying assets are bonds and as collateralized loan obligations (CLOs) when the underlying assets are bank loans. Investing in Collateralized Debt Obligations covers not only the fundamental features of these securities and the investment characteristics that make them attractive to a broad range of institutional investors, but also the tools for identifying relative value. Nearly a dozen of today's best known analysts discuss emerging market CBOs, relative value frameworks, pricing strategies and techniques, and more.

Collateralized Loan Obligations

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Publisher :
ISBN 13 : 9781633592308
Total Pages : pages
Book Rating : 4.5/5 (923 download)

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Book Synopsis Collateralized Loan Obligations by : Jason A. Schwartz

Download or read book Collateralized Loan Obligations written by Jason A. Schwartz and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Collateralised Loan Obligatations (CLOs)

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Publisher :
ISBN 13 :
Total Pages : 65 pages
Book Rating : 4.:/5 (248 download)

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Book Synopsis Collateralised Loan Obligatations (CLOs) by : Andreas A. Jobst

Download or read book Collateralised Loan Obligatations (CLOs) written by Andreas A. Jobst and published by . This book was released on 2002 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Collateralized Debt Obligations and Structured Finance

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Publisher : John Wiley & Sons
ISBN 13 : 047148136X
Total Pages : 354 pages
Book Rating : 4.4/5 (714 download)

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Book Synopsis Collateralized Debt Obligations and Structured Finance by : Janet M. Tavakoli

Download or read book Collateralized Debt Obligations and Structured Finance written by Janet M. Tavakoli and published by John Wiley & Sons. This book was released on 2004-03-29 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most cutting-edge read on CDO and credit market structures Collateralized Debt Obligations and Structured Finance provides a state-of-the-art look at the exploding CDO and structured credit products market. Financial expert Janet Tavakoli examines securitization topics never before seen in print, including the huge increase in the CDO arbitrage created by synthetics; the tranches most at risk from this new technology; dumping securitizations on bank balance sheets; the abuse of offshore vehicles by companies such as Enron; and securitizations made possible by new securitization techniques and the introduction of the Euro. This valuable guide comprehensively covers one of the fastest growing markets on Wall Street, predicting where new bank regulations and other developments may lead to product growth or product extinction. While providing an overview of the market and its dynamic growth, Collateralized Debt Obligations and Structured Finance explores the types of products offered, hedging techniques, and valuation and risk/return issues associated with investment in CDOs and synthetic CDOs. Janet M. Tavakoli, MBA (Chicago, IL), has over eighteen years of experience trading, structuring, and marketing derivatives and structured products with major financial institutions in New York and London. She is also the author of Credit Derivatives and Synthetic Structures, now in its Second Edition (0-471-41266-X).

A Primer on Securitization

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Publisher : MIT Press
ISBN 13 : 9780262611633
Total Pages : 200 pages
Book Rating : 4.6/5 (116 download)

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Book Synopsis A Primer on Securitization by : Leon T. Kendall

Download or read book A Primer on Securitization written by Leon T. Kendall and published by MIT Press. This book was released on 2000 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Primer on Securitization introduces readers to America's newest system of raising capital: what it is, how it operates, and what difference securitization makes. Gathering fourteen lectures by the pioneers of securitization and by current practitioners--from Freddie Mac, Paine Webber, JP Morgan, Chrysler, McKinsey & Co, and other major players-- A Primer on Securitization introduces readers to America's newest system of raising capital: what it is, how it operates, and what difference securitization makes.The securitization process bypasses financial intermediaries that have historically collected deposits and loaned them to those seeking funds, and links borrowers directly to money and capital markets. Although little has been written about what is perhaps one of the most important innovations to emerge in financial markets since the 1930s, securitization has revolutionized the way that the borrowing needs of consumers and businesses are met. Today, for example, over two-thirds of all home loans are being securitized, along with substantial percentages of auto loans and credit card receivables, and the process continues to expand into new fields including synthetic securities. Authoritative and practical, these lectures show how securitization was developed to fill a gap in financial markets. They discuss the nature and causes of the market imperfections that made securitization a valuable source of funds, and describe how securitization has linked local mortgage markets with international capital markets. Readers will gain a broad perspective of the different parties--the borrower, the loan originator, the servicer, the rating agency, the special purpose vehicle, the credit enhancer, the underwriter, and the investor--as well as a detailed analysis of how these parties relate to one another. From the inception of the secondary mortgage market through the collapse of the Granite funds, readers will learn not only about the success but also about the excesses and failures that typically accompany the development of any product in the real or financial sector.