Suchergebnisse

Overview of structured funding -- Asset-backed debt structures -- Swaps in structured funding -- Swap prepayment risk -- Swap extension risk -- Downgrade risk -- Deal management

Develop the skillset essential to successful securitisation swaps management Securitisation Swaps is a complete practitioner's guide to this unique and complex class of derivatives. This detailed examination follows the entire life cycle of securitisation swaps to give quants, structurers, traders, originators, issuers and lawyers a common reference for understanding their shared objective. Broad in scope to provide a common-ground perspective - yet detailed enough to promote full understanding - the discussion takes a distinctly cross-disciplinary approach that encompasses the multi-faceted knowledge base required to successfully execute these complex trades. Despite the fact that the size of the market is trillions of dollars in notional principal, securitisation swaps have thus far been neglected in both academic and practitioner literature. The numerous stakeholders that work together on these complex deals will all greatly benefit from a thorough understanding of their underlying risks and gain deep insight into the perspectives of each stakeholder. This invaluable guide provides multi-disciplinary insight that allows practitioners to: -Manage securitisation swaps more effectively, from pre-trade structuring and modelling to post-trade risk management and accounting -Understand the elements of securitisation and covered bonds, and how swaps mitigate risk in these types of transactions -Explore how securitisation swaps differ from other derivatives and delve into their three specific risk factors - swap prepayment risk, swap extension risk and downgrade risk -Learn practical methods and strategies of risk management, accounting, pricing and transaction execution When securitisation trades go wrong, they become front-page news - but when each participant understands accurate modelling, risk mitigation, optimal structuring, costs, pricing, commercial backgrounds and other integral practices, they are able to work together to achieve a shared objective. Securitisation Swaps provides the essential knowledge that streamlines and safeguards these important trades.

Purpose. To explore the relationship between participants' eye fixations (a measure of attention) and durations (a measure of concentration) on Areas of Interest within a range of online articles and their levels of information discernment (a sub-process of information literacy characterising how participants make judgements about information).Methodology. Eye-tracking equipment was used as a proxy measure for reading behaviour by recording eye-fixations, dwell times and regressions in males aged 18-24 (n=48). Participants' level of information discernment was determined using a quantitative questionnaire.Findings. Data indicates a relationship between participants' level of informationdiscernment and their viewing behaviours within the articles' Area of Interest. Those who scored highly on an information discernment questionnaire tended to interrogate the online article in a structured and linear way. Those with high-level information discernment are more likely to pay attention to textual and graphical information than those exhibiting low level information discernment. Conversely, participants with low-level information discernment indicated a lack of curiosity by not interrogating all of the article. They were unsystematic in their saccadic movements spending significantly longer viewing irrelevant areas.Social implications. The most profound consequence is that those with low-level information discernment, through a lack of curiosity in particular, could base health, workplace, political or everyday decisions on sub-optimal engagement with, and comprehension of information or misinformation (such as fake news).Originality/value. Ground-breaking analysis of the relationship between a persons' self reported level of information literacy (information discernment specifically) and objective measures of reading behaviour.