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Credit Risk Mitigation and Synthetic Securitization comprehensively addresses the evolving regulations governing the structuring and recognition of credit protection and synthetic securitization. Written by expert lawyers in the field, it explains how and why credit protection techniques serve their modern, prudential regulatory functions.
List of contents
- 1: Introduction
- 2: Funded and Unfunded Credit Protection
- 3: Guarantees
- 4: Functional Equivalents to Guarantees and Credit Derivatives
- 5: Funded Credit Protection and the Banking Book
- 6: Real Estate Finance and Specialized Lending
- 7: Derivatives, SFTs, and the Trading Book
- 8: Groups and Intermediated Credit Protection
- 9: Securitization and Significant Risk Transfer
- 10: Significant Risk Transfer: Legal Requirements and Structural Considerations
- 11: Regulatory Capital Implications of Achieving Significant Risk Transfer
- 12: Securitization: Other Regulatory Considerations
- 13: Effectiveness, Enforceability and Legal Opinions
About the author
Charles H R Morris is a London-based lawyer specializing in financial regulation, with a particular focus on bank prudential regulation. He advises on UK and international financial services regulation, company law, and insolvency law. Charles has extensive experience in advising banks, investment firms, and other financial institutions on prudential regulatory and resolution-related matters, especially in the context of M&A, securities issuances, and group reorganizations.
Timothy Cleary is a partner in the London office of Clifford Chance LLP. He specializes in structured finance and synthetic securitization, with a particular focus on credit/synthetic risk transfer and bank capital requirements. He acts for banks across the UK and Europe, advising on all aspects of credit risk mitigation and the impact of such arrangements on their regulatory capital requirements. Timothy is acknowledged as a leading expert in the field of synthetic securitization, and has for many years been closely involved with banks and industry bodies in the evolution of the regulatory framework for such transactions.
