Global Securitization Trend Risk Management Challenge for BASEL II
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Transcript of Global Securitization Trend Risk Management Challenge for BASEL II
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Global Securitization Trend Risk Management Challenge for BASEL II
Grace Chu, Taiwan International Securities Corporation ,,
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BASEL II
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FEDGreenspanInstruments of Financial Stability911Warren BuffetWeapons of Mass Destruction
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GreenspanCredit Default SwapCDSCollaterlized Debt ObligationsCDOCredit-Linked NotesCLNEnronGlobal CrossingSwissairRailtrackWorldCom20022004Prevented a Collapse in the Banking Industry
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CDO
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CDO VS. CDO
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Cash CDOSynthetic DO
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CDO1995 VS. 2005
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CDOCDO125029009.6%2005CDO15CDO
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CDOCDOCDO1.5%~1.75%0.4%3Merril LynchCitibankCDO
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CDOALibor1520AALibor14020Christopher RicciardiCDO20
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CDOCDODelphi GLG Partners
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Warren BuffetHedge FundCDOCDSBig Sellers of Credit Protection
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Warren BuffetDelphiCDO127 CDO39 CDO DelphiMajor CompanyCDS