Beijing. This lecture begins by reviewing securitization's role in the global financial crisis. Next, it examines … securitization's problems and compares the U.S. and Chinese regulatory approaches. Thereafter, the lecture addresses the future of … securitization, including covered bonds and the new Chinese regime of asset-backed notes. Finally, the lecture compares Chinese asset …

developments of mortgage-covered bond (Pfandbrief) and mortgage securitization markets in Germany, and explores future prospects … bonds over securitization. Some of the systemic vulnerabilities associated with covered bonds are also discussed …