A Primer on Structured Finance
Andreas (Andy) Jobst
International Monetary Fund (IMF) - European Department
Journal of Derivatives and Hedge Funds, Vol. 13, No. 3
ICFAI Journal of Risk Management, 2007
Regulatory concerns about the impact of structured claims on financial stability in times of stress are frequently too sweeping and indistinct for a judicious assessment of how structured finance transactions might propagate asset shocks across different capital market segments. This brief chapter defines structured finance in order to inform a more specific debate about possible regulatory challenges posed by complex forms of credit risk transfer.
Note: Parts of the article were previously published in "What is Structured Finance?," Securitization Conduit, Vol. 8, 2005/6.
Number of Pages in PDF File: 21
Keywords: structured finance, credit risk transfer, asset-backed securitization (ABS), securitization, mortgage-backed securitization (MBS), collateralized debt obligation (CDO), credit default swap (CDS)
JEL Classification: D81, G15, M20
Date posted: November 2, 2005 ; Last revised: June 3, 2008
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