Covered Bonds and Mortgage-Backed Finance £895
A comprehensive introduction to Covered Bonds focusing on their relationship to mortgage backed securities, their risk
assessment and Moody's approach to rating them, including the joint default approach, credit quality and valuation of the cover
pool, timeliness of payments and legal aspects.
It should provide a thorough understanding of the capital market instruments available to finance mortgages together with an
appreciation of the different approaches to assessing the credit risk of such.
On the completion of this seminar, delegates will understand: Why Moody’s Analytics?
» what a covered bond is
Our courses are built and updated based on
» how it compares with a mortgage backed security extensive research, experience, and the dynamic
» how to assess its credit quality including an analysis of the cover pool changes in the financial markets. For in-house
» an appreciation of legal frameworks training, we work with you to understand the
distinct needs of your organization and design,
Who Should Attend implement, and track the performance of your
This is a fast paced course aimed at anybody wanting to learn about this topical learning programs from end-to-end, including skills
assessment, program design, implementation,
subject including issuers, arrangers, investors, credit analysts and researchers. It can
evaluation, and enhancement.
also be viewed as explaining how residential and commercial property is financed in
the capital markets. Comprehensive Coverage
We offer a broad set of technical and soft skills
programs that can be combined and adapted to the
Program Level needs of your staff. Our areas of expertise include:
Program Level: Intermediate
» Banking & Credit
Prerequisities: Some appreciation of the basic mechanics of securitisation as » Financial Markets & Investments
covered in either the first day of our three day Structured Finance Course, our one » Risk & Capital Management
day Asset-Backed Securities Course or one years' experience in the field would be of » Corporate Finance
assistance but not essential. » Derivatives & Structured Products
» Professional & Personal Development
Advanced Preparation: None
Delivery Method: Group-Live Our training solutions leverage over a century of
experience in risk assessment and the
Accreditation comprehensive tools, data, and analysis of Moody’s
Analytics to deliver timely, in-depth, and
Moody's Analytics is registered with the National Association of State Boards of
comprehensive knowledge. In delivery, our people
Accountancy (NASBA) as a sponsor of continuing professional education on the make the difference –they combine deep experience
National Registry of CPE Sponsors. State boards of accountancy have final authority as financial practitioners, intellectual passion for the
on the acceptance of individual courses for CPE Credit. Complaints regarding content, and superior academic credentials with a
registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 commitment to delivering outstanding quality.
Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. Website:
Moody’s Analytics is accredited with the CFA Institute and the UK Solicitors Regulation Authority.
REGISTER ONLINE AT MOODYSTRAINING.COM
Covered Bonds and Mortgage-Backed Finance
ONE Related Courses
Session 1: Covered Bonds » Structured Finance
The Joint Default Approach » Debt, Derivatives and Hedging
Determining the credit quality of the Cover Pool » Introduction to CDOs
("Collateral Score") » Introduction to Credit Derivatives
The refinancing of the Cover Pool for bullet bonds » Bond Market Mutual Funds
following Issuer Default » Money Market and Liquidity Funds
Incorporating the effects of interest rate and currency
Timely payment of interest and principal following Issuer
Development of legal frameworks Tailor Any Course for Your Organization
Market Statistics Moody’s Analytics also offers in-house, custom training and
Monitoring eLearning solutions to help you get the most from your training
Group Exercises investment. Our hands-on approach benefits companies of all sizes
and requirements – from those with just a few local employees to
Session 2: Calculating the Collateral Score for those with staff dispersed around the globe. Contact us to learn more
and to work with one of our training consultants to design the right
program for your organization.
The impact of loan-to-value ratios on loss probability and Multiple Bookings
severity Special rates may be available for multiple course or group bookings.
Important loan and borrower characteristics Please contact us for details.
Assessing the risks: Overview of Moody's "MILAN" loan-
Fees & Cancellations
Group Exercise The fee listed is per participant and includes refreshments, lunches
and seminar materials. Course fees do not include tax, transportation
or hotel accommodations. Payment must be received in full prior to
Session 3: Reviewing Commercial Mortgage Backed the start of the seminar. Registrations may be cancelled in writing via
Pools letter or email at least 30 days before the first date of the training for
Structural issues including leverage, available funds cap a full refund. Cancellations received less than 30 days in advance are
and sequential/pro-rata pay eligible for substitution with another course, but fees will not be
Loan-by-loan analysis refunded. We reserve the right to cancel or reschedule seminars at
Importance of property analysis any time.
Portfolio and correlation Refund Policy: For further information on our refund and complaint
Impact of various structural features on loss distributions policy, please contact us at + 44 20 7772 1569 or +1 212-553-1401.
Register online at moodystraining.com or email us at