Buy Collateralized Debt Obligations and Structured Finance by Janet M. Tavakoli
Book 1
Book 2
Book 3
Book 1
Book 2
Book 3
Book 1
Book 2
Book 3
Book 1
Book 2
Book 3
Home > Business and Economics > Finance and accounting > Finance and the finance industry > Investment and securities > Collateralized Debt Obligations and Structured Finance: New Developments in Cash and Synthetic Securitization(Wiley Finance Series)
Collateralized Debt Obligations and Structured Finance: New Developments in Cash and Synthetic Securitization(Wiley Finance Series)

Collateralized Debt Obligations and Structured Finance: New Developments in Cash and Synthetic Securitization(Wiley Finance Series)


     0     
5
4
3
2
1



Out of Stock


Notify me when this book is in stock
X
About the Book

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).

Table of Contents:
Introduction.CHAPTER 1: The CDO Paradigm Shift.Estimated Market Size.CHAPTER 2: The Origins of Securitization.The CDO "Arbitrage".Portfolio Diversification and Credit Events.Terminology.True Sale, Hybrid, and Synthetic Structures.Credit Enhancement.CDO Classifications.Market Value CDOs.Cash Flow CDOs.The Origins of U.S. Securitization.Collateralized Mortgage Obligations.CHAPTER 3: Structured Finance and Special Purpose Entities.SPCs and Historical Abuse.SPEs and SPVs.Documentation.Example of a Multiple Issuance Entity (MIE).Cayman Domiciled SPEs.Repackagings to Satisfy Investor Demand.CLNs and Funding Costs.Structured Floaters.Principal Protected Notes (PPNs).Loan Repackagings.Mismatched Maturities.Liquidity.Setup Costs.Unwind Triggers Linked to Derivatives Transactions.DAX-Linke d Note with Triggers.Ratings.Master Trusts.Owner Trusts.Grantor Trusts.REMICs.Multiseller and Single Seller Conduits.Domestically Domiciled Corporations.Bankruptcy Remote?CHAPTER 4: Credit Derivatives and Total Rate of Return Swaps.Risks to Portfolio Value.CDSs.Are You Hedged?-The Regulatory Viewpoint.Digital Cash Payment-Alternate Termination Payment.Initial Value - (Par - Market Value): Alternate Termination Payment.Normalized Price Method-Alternate Termination Payment.Hedge Costs in Cash and Synthetic CDOs.Deliverables: CDOs and the "Cheapest to Deliver" Option.Convertible Bonds and Asset Swaps.Default and Recovery Rate.The Default Protection Seller: Credit and Correlation.Default Language for Sovereign Debt.Default Language for Nonsovereign Debt: Controversy and CDOs.Comments on CDS Prices.Total Rate of Return Swaps (Total Return Swaps).Pricing TRORS on Levered CDO Tranches.TRORS versus Repos.Moral Hazard with Bank Loan Reference Assets.CDS versus TRORS.CHAPTER 5: Cash versus Synthetic Arbitrage CDOs.Comparison of Managed Arbitrage CDO Features: Cash versus Synthetic Deals.The Arranger and the Manager.Mandate Agreement.Deal Assembly.CDS Language for the Synthetic CDO.Selecting the Portfolio and Impact on Rating.Rating Criteria and Restrictions.Substitution and Reinvestment Criteria.Warehousing Assets.Pricing and Closing.Ramping-Up the Portfolio.Reinvestment Period.Non-Call Period.Pay Down Period.Weighted Average Life and Expected Final Maturity.Early Termination.Legal Final Maturity.Tranching and the Synthetic Arbitrage Advantage.Waterfalls for Cash versus Synthetic Arbitrage CDOs.Payment-in-Kind (PIK) Tranches.Psychic Ratings: Rating Agency Treatment of PIK Tranches.The Super Senior Advantage.CDS versus Cash Asset Spreads.Simplified Examples of Interest Rate Swaps and Asset Swaps.Hedging the CDO Portfolio Cash Flows.Settlement in the Event of Default or Credit Event.Documentation.Cash versus Synthetic Arbitrage CDO Equity Cash Flows.Sample Cash Flows.Summary of Cash Arbitrage CDOs versus Synthetic Arbitrage CDOs.CHAPTER 6: Cash Flow Caveats.Conventional Wisdom.Accruing Errors.Probability of Receipt.Equity Structures.Equity Earns all Residuals, But Loss Is Limited to Original Investment.Equity Investor Injects Cash as Overcollateralization.Rated Equity Earns Stated Coupon Appropriate to Rating.Rated Equity: Static Deal.Equity Investor Earns a Stated Coupon on the Remaining Equity Investment.Conflict of Interest between the Residual Holder and Senior Tranche Investors.Unfunded Equity Investments-Ultimate Leverage.Actively Traded and Limited Substitution Synthetic Arbitrage CDOs.Interest Subparticipations (ISPs): When Equity Isn't First Loss.Participation Notes (PNs).Capped PNs.Combination Notes (CNs).Investor Motivation.Principal Protected Structures.CHAPTER 7: Balance Sheet CDOs.True Sale ("Fully Funded"): Delinked Structure.Linked Nonsynthetic Structures.Linked Black Box Credit Linked Note (CLN) CDOs.Synthetic Structure with SPE (BISTRO).Partially Synthetic Linked CDOs.Fully Synthetic CDOs.Small to Medium-Size Enterprises (SMEs)-Europe.SMEs: United States versus Europe.Secured Loan Trusts.Regulatory Capital-The Model Advantage.Regulatory Capital-BIS II.CHAPTER 8: Structured Finance and Risk.Credit Risk Dumping Grounds: The Bank's Balance Sheet and Trading Books.Loans and Other Exposures.New Structured Finance Deals.Fraud.Enron, J.P. Morgan, and Offshore Vehicles.Participation Notes.Equity Total Rate of Return Swaps (TRORS)-Loans Disguised as Capital Injections.The Trading Book Parking Lot: Regulatory Capital Arbitrage.Trading Books and CDOs: Short Mezzanine and Long Equity.Hedge Funds as Investors.Structured Finance and Accounting (Kidder Peabody).The Sarbanes-Oxley Act of 2002.Will Sarbanes-Oxley Make a Difference?CHAPTER 9: Super Senior Sophistry.The AAA Rip-Off.Rating Agencies-Moody's Tranching.AAA Basket with 2 Percent First-Loss Tranche.Super Senior Attachment Point.Super Senior Pricing.Super Seniors or Senile Seniors?Where Are the Regulators?Junior Super Seniors.Super Senior "Investors".Final Thoughts on Super Seniors.CHAPTER 10: Selected Structured Finance Products.Future Flows: Payment Rights Securitizations.Emerging Market Caveats 298Multisector CDOs: CDOs2.Structured Investment Vehicles (SIVs): Credit Arbitrage Funds.Hedge Funds and Collateralized Fund Obligations (CFOs).First (and nth)-to-Default Basket Swaps.Portfolio Swaps.Multiline Insurance Products: Disappointment and Promise.Lexington (AIG) and Hollywood Funding.Transformers.CHAPTER 11: Future Developments in Structured Finance.Playing the Game with BIS II.Trend to Risk Distribution.Acronym Key.Selected Bibliography.Interesting Web Sites.Index.

About the Author :
JANET M. TAVAKOLI is the President of Tavakoli Structured Finance, Inc. (www tavakolistructuredfinance.com). Tavakoli 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 a former Adjunct Associate Professor in the Finance Department of the University of Chicago's Graduate School of Business where she taught Derivatives. Tavakoli is also the former Executive Director and Head of Financial Engineering for the Global Capital Markets Group of WestLB in London.

Review :
"...Tavakoli uses her broad professional experience to examine the CDO market in simple and clear language." (Risk, March 2004) "Tavakoli...does what she can to address this market's growing pains in...this intriguing book" (Hedge World)


Best Sellers


Product Details
  • ISBN-13: 9780471462200
  • Publisher: John Wiley and Sons Ltd
  • Publisher Imprint: John Wiley & Sons Inc
  • Height: 238 mm
  • Returnable: N
  • Sub Title: New Developments in Cash and Synthetic Securitization
  • Width: 164 mm
  • ISBN-10: 0471462209
  • Publisher Date: 28 Aug 2003
  • Binding: Hardback
  • Language: English
  • Series Title: Wiley Finance Series
  • Weight: 533 gr


Similar Products

Add Photo
Add Photo

Customer Reviews

REVIEWS      0     
Click Here To Be The First to Review this Product
Collateralized Debt Obligations and Structured Finance: New Developments in Cash and Synthetic Securitization(Wiley Finance Series)
John Wiley and Sons Ltd -
Collateralized Debt Obligations and Structured Finance: New Developments in Cash and Synthetic Securitization(Wiley Finance Series)
Writing guidlines
We want to publish your review, so please:
  • keep your review on the product. Review's that defame author's character will be rejected.
  • Keep your review focused on the product.
  • Avoid writing about customer service. contact us instead if you have issue requiring immediate attention.
  • Refrain from mentioning competitors or the specific price you paid for the product.
  • Do not include any personally identifiable information, such as full names.

Collateralized Debt Obligations and Structured Finance: New Developments in Cash and Synthetic Securitization(Wiley Finance Series)

Required fields are marked with *

Review Title*
Review
    Add Photo Add up to 6 photos
    Would you recommend this product to a friend?
    Tag this Book Read more
    Does your review contain spoilers?
    What type of reader best describes you?
    I agree to the terms & conditions
    You may receive emails regarding this submission. Any emails will include the ability to opt-out of future communications.

    CUSTOMER RATINGS AND REVIEWS AND QUESTIONS AND ANSWERS TERMS OF USE

    These Terms of Use govern your conduct associated with the Customer Ratings and Reviews and/or Questions and Answers service offered by Bookswagon (the "CRR Service").


    By submitting any content to Bookswagon, you guarantee that:
    • You are the sole author and owner of the intellectual property rights in the content;
    • All "moral rights" that you may have in such content have been voluntarily waived by you;
    • All content that you post is accurate;
    • You are at least 13 years old;
    • Use of the content you supply does not violate these Terms of Use and will not cause injury to any person or entity.
    You further agree that you may not submit any content:
    • That is known by you to be false, inaccurate or misleading;
    • That infringes any third party's copyright, patent, trademark, trade secret or other proprietary rights or rights of publicity or privacy;
    • That violates any law, statute, ordinance or regulation (including, but not limited to, those governing, consumer protection, unfair competition, anti-discrimination or false advertising);
    • That is, or may reasonably be considered to be, defamatory, libelous, hateful, racially or religiously biased or offensive, unlawfully threatening or unlawfully harassing to any individual, partnership or corporation;
    • For which you were compensated or granted any consideration by any unapproved third party;
    • That includes any information that references other websites, addresses, email addresses, contact information or phone numbers;
    • That contains any computer viruses, worms or other potentially damaging computer programs or files.
    You agree to indemnify and hold Bookswagon (and its officers, directors, agents, subsidiaries, joint ventures, employees and third-party service providers, including but not limited to Bazaarvoice, Inc.), harmless from all claims, demands, and damages (actual and consequential) of every kind and nature, known and unknown including reasonable attorneys' fees, arising out of a breach of your representations and warranties set forth above, or your violation of any law or the rights of a third party.


    For any content that you submit, you grant Bookswagon a perpetual, irrevocable, royalty-free, transferable right and license to use, copy, modify, delete in its entirety, adapt, publish, translate, create derivative works from and/or sell, transfer, and/or distribute such content and/or incorporate such content into any form, medium or technology throughout the world without compensation to you. Additionally,  Bookswagon may transfer or share any personal information that you submit with its third-party service providers, including but not limited to Bazaarvoice, Inc. in accordance with  Privacy Policy


    All content that you submit may be used at Bookswagon's sole discretion. Bookswagon reserves the right to change, condense, withhold publication, remove or delete any content on Bookswagon's website that Bookswagon deems, in its sole discretion, to violate the content guidelines or any other provision of these Terms of Use.  Bookswagon does not guarantee that you will have any recourse through Bookswagon to edit or delete any content you have submitted. Ratings and written comments are generally posted within two to four business days. However, Bookswagon reserves the right to remove or to refuse to post any submission to the extent authorized by law. You acknowledge that you, not Bookswagon, are responsible for the contents of your submission. None of the content that you submit shall be subject to any obligation of confidence on the part of Bookswagon, its agents, subsidiaries, affiliates, partners or third party service providers (including but not limited to Bazaarvoice, Inc.)and their respective directors, officers and employees.

    Accept

    Fresh on the Shelf


    Inspired by your browsing history


    Your review has been submitted!

    You've already reviewed this product!