Secondary Market Tax-exempt Asset Securitization for Sponsors, Investors, Other Market Participants, and Their Counsel
Secondary Market Tax-exempt Asset Securitization for Sponsors, Investors, Other Market Participants, and Their Counsel

Author: Darrell R. Larsen

Publisher: American Bar Association

Published: 2005

Total Pages: 340

ISBN-13: 9781590315132

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Providing a comprehensive and in-depth analysis of business considerations, this book is a valuable tool that also looks at legal issues for secondary market securitization of tax-exempt assets, including the securitized TOB market. It also analyzes solely the securitization of state and local government obligations, interest on which is federally tax-exempt, and more.

The Federal Income Taxation of Mortgage-Backed Securities
The Federal Income Taxation of Mortgage-Backed Securities

Author: James M. Peaslee

Publisher: Irwin Professional Publishing

Published: 1994

Total Pages: 737

ISBN-13: 9781557384836

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The explosive growth of the mortgage-backed securities marketplace, along with the sheer complexity of federal tax regulations, has created the need for a clear, comprehenisve treatment of the taxation of these important instruments. The Federal Income Taxation of Mortgage-Backed Securities fulfills this need for issuers, investors and sponsors alike. Since its publication in 1989, the first edition has become the standard text in the area. This edition takes account of the many changes in the law and marketplace in the last five years. The book offers a complete review of the current tax treatment of all major types of mortgage-backed securities, including: fixed and floating rate CMOs; pass-throughs and loan particpations; regular and residual interest in REMICs; interest-only and principal-only strips; senior and subordinated pass-through certificates.

The Risks of Financial Institutions
The Risks of Financial Institutions

Author: Mark Carey

Publisher: University of Chicago Press

Published: 2007-11-01

Total Pages: 669

ISBN-13: 0226092984

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Until about twenty years ago, the consensus view on the cause of financial-system distress was fairly simple: a run on one bank could easily turn to a panic involving runs on all banks, destroying some and disrupting the financial system. Since then, however, a series of events—such as emerging-market debt crises, bond-market meltdowns, and the Long-Term Capital Management episode—has forced a rethinking of the risks facing financial institutions and the tools available to measure and manage these risks. The Risks of Financial Institutions examines the various risks affecting financial institutions and explores a variety of methods to help institutions and regulators more accurately measure and forecast risk. The contributors--from academic institutions, regulatory organizations, and banking--bring a wide range of perspectives and experience to the issue. The result is a volume that points a way forward to greater financial stability and better risk management of financial institutions.

Debt Bias and Other Distortions
Debt Bias and Other Distortions

Author: International Monetary Fund. Fiscal Affairs Dept.

Publisher: International Monetary Fund

Published: 2009-12-06

Total Pages: 41

ISBN-13: 1498335926

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Tax distortions are likely to have encouraged excessive leveraging and other financial market problems evident in the crisis. These effects have been little explored, but are potentially macro-relevant. Taxation can result, for example, in a net subsidy to borrowing of hundreds of basis points, raising debt-equity ratios and vulnerabilities from capital inflows. This paper reviews key channels by which tax distortions can significantly affect financial markets, drawing implications for tax design once the crisis has passed.