|| Asset Securitization and Structured Finance:
Benefits, Risks and Regulatory Implications
IMF Headquarters, Washington, D.C.
April 19-20, 2005
Last Updated: April 18, 2005
Financial intermediaries, corporations and governments in advanced and emerging markets are increasingly using securitization and structured finance to design new funding instruments, to manage and transfer risks, and to develop their financial markets. Securitization is the process of creating and issuing securities backed by a pool of assets. Structured finance, broadly defined, refers to the repackaging of cash flows that can transform the risk, return, and liquidity characteristics of financial portfolios. As these tools are used more widely, policymakers and regulators are facing new challenges.
The seminar will:
The seminar program consists of four sessions:
I. The first session will examine the process of asset securitization and the creation of structured financial products, and raise some relevant policy issues.
II. In the second session, market practitioners will present their views on the benefits and risks of securitization and structured finance and discuss how the risks can be managed, and how such products can contribute to capital market development.
III. The third session will explore the regulatory, supervisory, macroeconomic and financial stability issues raised by these new financial instruments.
IV. In the last session, a panel will discuss the experience of advanced countries and the lessons for emerging market countries.
Attendance is by invitation only. Queries regarding the seminar may be addressed to INSINFO@imf.org.