Publisher's Synopsis
In the wake of the Asian crisis and the introduction of the Euro, the global ABS markets have seen unprecedented growth, as governments across Asia and Europe drive to restructure balance sheets and strengthen their domestic financial and corporate institutions. The use of securitization as a flexible and adaptable solution to free up unproductive capital and improve shareholder return on equity has now taken hold, and the technique is rapidly being entrenched on a regulatory basis worldwide. Securitization products and techniques, and the rapidly growing market in mortgage bond developed from German Pfandbreife, are set to become the cornerstone of the global capital markets.;Since the August 1998 Russian debt default alone, the accelerating pace of developments has included: new securitization laws or regulations in Italy, Korea, France, Portugal, Sweden, Japan and the UK; inauguration of the European Pfandbriefe markets in France, Luxembourg and Spain; bank capital guidelines on securitization in Germany, Malaysia, Philippines, Singapore and the UK; and new Basle committee proposals on regulatory capital.
