Product Description

Created by the experienced author team of Frank Fabozzi, Henry Davis, and Moorad Choudhry, Introduction to Structured Finance examines the essential elements of this discipline. It is a convenient reference guide—which covers all the important transaction types in one place—and an excellent opportunity to enhance your understanding of finance.

Product Details

• Amazon Sales Rank: #207021 in Books
• Published on: 2006-10-20
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 400 pages

Review
Structured finance is one of those elusive terms that mean different things to different people. With this wonderful book, authors Fabozzi, Davis and Choudhry first explore the boundaries of what is and is not considered to be structured finance. A simple definition would be that structured finance is any form of non-traditional financing, but this begs the question of where to draw the line between traditional and non-traditional. Certainly, most people wouldn't consider a vanilla swap to be structured finance! Structured finance might be described in terms of techniques that are commonly employed—securitization, derivatives, special purpose vehicles (SPVs), leasing, project finance, etc. The authors explore this and other approaches to, if not defining structured finance, at least clarifying its boundaries.-- Riskbook.com

From the Back Cover
Structured finance is a term that covers a very wide range of financial market transactions and products. While a common definition of it seems to center on securitization, structured financial products also include credit derivatives, bonds with embedded options, leveraged leasing, project financing, and a variety of other complex financing transactions.

Created by the experienced author team of Frank Fabozzi, Henry Davis, and Moorad Choudhry, Introduction to Structured Finance examines the essential elements of this discipline and makes them understandable to a wide audience—from professionals generally familiar with the world of finance who want to enhance their technical knowledge to specialists in some structured finance disciplines who want to become more familiar with others.

Written in a straightforward and accessible style, this comprehensive guide—along with its information-packed appendices—contains a broad view of structured finance that includes:

• Securitization
• Interest rate derivatives (such as options, caps, and floors)
• Credit derivatives (such as asset swaps and total return swaps)
• Securitized and synthetic funding structures
• Cash and synthetic collateralized debt obligations (CDOs)
• Credit-linked notes and structured notes
• Complex leasing transactions
• Project financing

Structured finance plays an important and growing role in today's financial markets. Indeed, a large part of financial innovation in recent years has been related to securitization, credit derivatives, or a combination of the two. Introduction to Structured Finance offers a well-rounded treatment of this dynamic discipline, a convenient reference covering all the important transaction types in one place, and an excellent opportunity to enhance your financial skills.

About the Author
FRANK J. FABOZZI, PHD, CFA, CFP, is an Adjunct Professor of Finance at Yale University's School of Management and the Editor of the Journal of Portfolio Management.

HENRY A. DAVIS, MBA, is an editor, writer, and consultant working in the fields of banking and corporate finance. He currently serves as Editor of two quarterly professional journals, the Journal of Structured Finance and the Journal of Investment Compliance.

MOORAD CHOUDHRY is Head of Treasury at KBC Financial Products in London. Previously, he worked at JPMorgan Chase Bank, where he was a vice president of structured finance services sales and marketing.

Customer Reviews

Fabozzi is a genius
The examples provided break down every part of structured finance you need to know. Fabozzi must understand the importance of a strong foundation because he lays one out for you in every piece he writes. I have learned more from reading his work than studying finance at school. He takes concepts and applies them to the real world in a way we can understand. His method allows us to think up more complex scenarios before he presents them to us himself. I recommend this as a great intro to SF and Fabozzi for any further reading in the sections of the industry that are new to you.

Good Book
I am a frequent purchaser of the Fabozzi series.

The Credit Derivatives as well as this Structured Finance book are a must have for any person's library.

They give broad but meaningful explanations of multiple product types.

Strong coverage of Credit Derivatives, Credit Linked Notes, Basis Swaps, Total Return Swaps etc..

These products are only going to pick up in trading volume.

The only downside or improvement I would like to see are discussions of new derivative instruments such as Recovery Locks, and go into more detail of Total Return or Credit-Linked Notes/Swaps that are based on floating rate debt.