Overview of Structured Products
Overview of structured products including advantages issuers and investors can receive from investing in these complex securities, risks that can arise, and recent regulatory changes.
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Module 1: Size and Scope of the Market
- Identify mechanics of Structured Products
- Issuers' and investors' appetite for structured products
- Identify why issuers create structured products
- Understand investor interest in structured products
Module 2: Understanding the Asset Classes of Asset-Backed Securities
- Understand ABS ratings for a broad range of asset types:
- Revolving consumer assets (Credit Cards)
- Synthetic securities
- Operating assets
- Future flows
- Auto loans and leases
- Manufactored housing
- Student loans
Module 3: Commercial Mortgage-Backed Securities
- Commercial Mortgage-Backed Securities include:
- Conduit fusion
- Floating rate
- Single borrower
- CRE CDO backed by loans and commercial properties
Module 4: Residential Mortgage-Backed Securities
- Residential MBS covers a broad range of collateral-backed transactions:
- Covered bonds
- Prime jumbo
- Alternative A (Alt A)
- Subprime mortgage loans
Module 1: Role/Function:
- Special purpose vehicle
Module 2: Identify mechanics of
- Popular structured products
Module 3: Credit Enhancements
- Excess Spread
- Tranching
- Insurance
- Over-Collateralization
Module 4: Risk Modeling
- Basics of default dependence
- Role of rating agencies/ Ratings modeling
- CDO Risk measures