This Yearbook focuses on the latest innovations in securitisation, including the securitisation of derivatives and alternative asset classes, and also exotic variations on the securitisation of well-established asset classes. Twenty-nine distinguished authors all of them active in the global securitisation markets as advisers, structurers, facilitators, or regulators brilliantly elucidate such topics as the following:
- synthetic squares as an effective means of arbitrage securitisation;
- collateralised debt obligations from a ratings perspective;
- use of, and potential for, synthetic securitisation in Germany and Italy;
- weather derivatives;
- use of equity derivatives as alternatives to credit risk;
- securitisation of alternative asset classes in Japan and the United States;
- covered bonds in a variety of European jurisdictions;
- new types of commercial mortgage backed securities;
- securitisation of non-performing tax receivable as an example of public sec securitisation; and
- securitisation structures in the Islamic regulatory and legal framework.