International Asset Securitisation

This volume concerns the international dimensions of asset securitisation. In a simplistic sense, securitisation is the repackaging of cash flows into securities, finding its genesis in the early repackaging of mortgages in the United States and in various domestic and international loan participation arrangements. Growing in usage in the United States in the mid-1980s, asset securitisation has now found its way into a number of the European markets. But, securitisation is now global, covering virtually every continent, and serving as a financial vehicle (and "bridge" between money and capital markets) in both developed and developing economies, as well as in transitioning economies. This volume addresses various financial, accounting and legal considerations involved with asset securitisation, with primary emphasis on the United States and United Kingdom.