Master the legal and tax regime of securitization. Measure all the practical applications of this technique.
Identify the legal and regulatory framework
• Use the law of 22 March 2004 for classic securitization of receivables and modern risk securitization.
• Application exercise: draft the contractual clauses (subdivision, subordination, limited regime ...).
• Formulate how the transfer and management of risks occurs.
Describe the structuring of a securitization transaction
• Define the different components: securitizable assets, securities, the securitization vehicle.
• Choose the right kind of vehicles.
• Determine the selection criteria: investment portfolio, risk diversification, approval, prospectus ...
• Identify the intervening parties and their functions according to different types of transactions: issuer, arranger, originator, security agent, investment advisor ...
Use the compartment technique
• Analyze the creation and operation of a compartment.
• Identify the specific characteristics of the compartments.
Master the tax system
• Analyze the tax treatment of the securitization transaction.
• Back to the problem of "state aid".
Measure all practical applications of securitization
• Describe a securitization transaction: nature of the assets, securitized risks, advantages for the originator, characteristics of the securities issued, credit enhancement ...
• Analyze the economic and legal issues.
• List the advantages of choosing Luxembourg as a place of domiciliation.
• Case studies: innovative transactions: securitization in microfinance, renewable energies ...
Good to know
Automagically translated from French
Where does it take place?
IFE
Luxembourg
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