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| What is Asset Securitization?
Asset-backed securities are securities which are based on pools of underlying assets. These assets are usually illiquid and private in nature. A securitization occurs to make these assets available for investment to a much broader range of investors. The "pooling" of assets makes the securitization large enough to be economical and to diversify the qualities of the underlying assets. A special purpose trust or instrument is set up which takes title to the assets and the cash flows are "passed through" to the investors in the form of an asset-backed security. The types of assets that can be "securitized" range from residential mortgages to trade receivables and even music royalties. The asset-backed security usually qualifies for a top rating and enables the issuing company or bank to raise funds at a very attractive rate, while freeing up capital and retaining customer relatiuonships and servicing revenues. |
About Us
Professor Ian Giddy and his associates have been conducting research and seminars on asset-backed securities since 1990.
Ian Giddy has taught finance at NYU, Columbia, Wharton, Chicago and in 30+ countries abroad for the past two decades. He was Director of International Fixed Income Research at Drexel Burnham Lambert from 1986 to 1989, where he worked on the design and implementation of structured finance, including asset-backed securities. The author of more than fifty articles on international finance, he has served at the International Monetary Fund and the U.S. Treasury and has been a consultant with numerous corporations and financial institutions in the U.S. and abroad. As a banker and consultant he has been involved in the growth of the ABS market in the USA, Europe and Asia. He is the author or co-author of The International Money Market, The Handbook of International Finance, Cases in International Finance, Global Financial Markets, Asset Securitization in Asia and The Hudson River Watertrail Guide.
Recent Securitization Seminars
- New Developments in Asset-Backed Securities (Excellante International, Johannesburg)
- Financial Institution Risk Management: The Impact of Securitization (Sogang University, Korea)
- Financing with Asset-Backed Securities (Institute of Bankers, Kuala Lumpur)
- Techniques in the Asset-Backed Securities Market (DBS Bank, Singapore)
- Asset-Backed Securities: The Global Challenge (CFS, Frankfurt)
- When The Rating Agencies Get it Wrong (HypoVereinsbank, UK)
- ABS: The Hidden Risks (Ambac, New York)
- Asset-Backed Securities Workshop (HypoVereinsbank, Munich)
- Asset-Backed Securities (University of Torino)
- Asset-Backed Securities (Frontiers of Finance Series, New York University)
Prof Ian Giddy
Stern School of Business
New
York University
44 West 4th Street
New York, NY
10024
USA
+1 212 998 0426