In the wake of the credit crunch, structured finance is linked to bailed-out investment banks and overpaid executives rather than the innovative financial solutions it continues to provide. The initial response from the financial markets was a move back to basics, to plain vanilla transactions.
Furthermore, many structured finance instruments, such as securitization, derivatives and other structured products, are facing intense regulatory and political scrutiny. These pressures notwithstanding, the potential of structured finance will play an important part in facilitating the road to recovery. This book explains why.
This book serves three purposes.
First it continues the analysis of structured finance, and in this sense complements and updates the popular and highly acclaimed first edition of this series (Securitization Law and Practice in the Face of the Credit Crunch), with plenty of focus on derivatives.
Second, the key milestones of the credit crunch are discussed with a focus on their potential impact for the expected flow of litigation by aggrieved investors against the perceived deep pockets of arrangers and rating agencies around the world.
The third purpose is to illustrate ways in which the untapped potential of structured finance may well facilitate the road to recovery.
CONTENTS
List of Abbreviations
About the Authors
Foreword
PART I Legal Fallout from the Credit Crunch
Chapter 1: The Credit Crunch
Chapter 2: The Response
PART II Structured Finance Products
Chapter 3: Preparation and Due Diligence
Chapter 4: Securitization Products
Chapter 5: Alternative Products
PART III Derivative Products
Chapter 6: Derivatives Overview
Chapter 7: ISDA Documentation
Chapter 8: Derivative Products
Index