Securitisation 100 - Introduction to Securitisation
Day 1 - 28th November 2006
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| Time Slot |
Event | Speakers |
| 08:30 |
Registration | |
| 09:00 |
Chairman's opening remarks | Moorad Choudhry, Visiting Professor, Department of Economics, London Metropolitan University, and Visiting Research Fellow, ISMA Centre, University of Reading |
| 09:15 |
BASIC CONCEPTS IN SECURITISATION
* Motivations behind securitisation
- Originators objectives: funding, balance sheet management, risk management
- Comparing different structures and solutions: term deals, money market CDOs, conduits and covered bonds
- Investors objectives: risk/return profile, diversification, accessibility
* Main structures: ABS/MBS/Covered bond / CDO/Repacks/whole business
* Economic impact of securitisation
* Basel I and II rules influence and impact
* Role and location of SPVs | Moorad Choudhry, Visiting Professor, Department of Economics, London Metropolitan University, and Visiting Research Fellow, ISMA Centre, University of Reading |
| 10:15 |
SECURITISATION AND ISSUER BALANCE-SHEET MANAGEMENT
* Use of securitisation as part of a funding strategy
* The tools and techniques involved when employing ABS, MBS, ABCP
* Assessing impact of securitisation as a risk management and balance-sheet management tool | Nick Bourne, Head of Securitisation, GMAC RFC |
| 11:15 |
Refreshments sponsored by AIB International Financial Services | |
| 11:45 |
SECURITISATION AND INVESTOR VALUE
* Finding relative value in the [asset] market
* Differing risk-reward profiles and investment opportunities across asset classes
* Increasing return without increasing the risk profile
* Accessibility to new asset classes: investment diversification
* Assessing different structures and deal performance
- The value of the portfolio manager
- Value compared across cash and synthetic deals
* Latest structural innovations in the [asset] market
* Opportunities in the secondary market, and secondary market liquidity
* Acting as investor comfort: the role of third-parties to the deal including Trustee, monoline insurer, and sub-administrator, investor reporting | Peng Sun CFA, Manager, ABS Strategist, Global Fixed Income Strategy, HSBC Bank plc |
| 12:45 |
Lunch sponsored by
BDO Simpson Xavier | |
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