Securitization, Structured Finance, and Covered Bonds

Abstract:     
This is one of three lectures I am giving in December 2012 at universities and government agencies in Shanghai and Beijing. This lecture begins by reviewing securitization’s role in the global financial crisis. Next, it examines securitization’s problems and compares the U.S. and Chinese regulatory approaches. Thereafter, the lecture addresses the future of securitization, including covered bonds and the new Chinese regime of asset-backed notes. Finally, the lecture compares Chinese asset-backed notes with covered bonds and securitization.

Number of Pages in PDF File: 26

working papers series