Why are credit card receivables typically securitised using a revolving structure rather than a static pool?

Suppose that you buy EUR 5 million of protection on a reference entity in a 5-year CDS. If the reference entity were to suffer a credit event during term of the agreement and the recovery rate on the reference obligation is 40%., what payment should you receive from the protection seller?

Which of the following characteristics is shared by the many different types of loans (e.g. mortgages, auto loans, credit card loans) that are typically securitized?

What does the cash flow waterfall in whole business securitisation (WBS) prioritise?

For what are CLO managers responsible?

What is the principal risk of a credit card securitisation?

Who is the main entity motivated to set up a capital relief trade?

To what does scheduled amortisation refer?

What is the main rationale for a capital relief trade?

What is the main purpose of a Special Purpose Vehicle?