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Legal and Economic Aspects of Securitisation
Urbancová, Barbora
186 13 ABSTRACT Theme of this dissertation is "Legal and economic aspects of securisiation". The main goal of the dissertation is to perform a comprehensive legal analysis of the issues relating to transactions, which can be termed securitisations, regarding also related economic aspects, while focusing especially on the analysis of special public law regulation of certain aspects related to securitisation under Czech law. The dissertation contains nine chapters. The first chapter specifies the theme of the work, its content, structure, main sources, goals and methods applied. The second chapter provides the basis for the subsequent legal analyses elaborated within the following chapters, as it deals with the general meaning and purpose of securisitation, its definition under applicable law, a standard structure of securitisation transaction and most common products of securitisation including evaluation of their character under Czech law. The essential issue rests with the interpretation of the general definition of the term securitisation in a way it is accepted in financial sector, it means as a tool of structured finance that covers all possible variations of secturisation transactions, as well as the interpretation of the definition of the term securitisation with respect to special public law...
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Insolvency of business corporations in the context of European Union and United States law
Šerák, Martin ; Pauknerová, Monika (advisor) ; Rozehnal, Aleš (referee) ; Brodec, Jan (referee)
v anglickém jazyce Despite the market relevance and cross-border operations of numerous credit and other financial institutions, the recent global financial crisis has clearly demonstrated that even the most significant conglomerates of the financial sector are not safe from the threat insolvency. Given cross-border activities of these institutions, any resolution of their market failure requires a comprehensive approach, inevitably facing also complexities arising from the presence of an international element. In this regard, this work examines persisting pitfalls pertaining to determination of international jurisdiction and applicable law, considering specific principles that govern current regulation of international insolvencies of credit institutions in conjunction with fundamental principles of universality and territoriality. With reference to existing case law, it is shown that despite the dogmatic dominance of the universality principle, the international solution of the insolvency of credit institutions still clashes with significant territorialism tendencies. Given the unique position of credit institutions and their systemic importance for financial stability, their resolution has traditionally been entrusted to supervisory authorities with competence. As a result, credit institutions...
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Vyhodnocení vlivu státních dluhopisů v portfoliích úvěrových institucí
Livarová, Monika
The focus of this thesis is to analyse the concentration of government bonds in portfolios of credit institutions in the Czech Republic, Austria and the Federal Republic of Germany in the period 2006-2015 and the resulting credit risk. In the theoretical part of the thesis a bond market and the credit institutions' motivation to hold government bonds is described. Also, the credit risk and the causes and the consequences of the nexus of credit institutions and sovereigns in the context of the European crisis is expounded. In the practical part of the thesis the government bond portfolio is broken down by issuer for the selected countries and then the portfolio credit risk is derived. The selected countries are compared with respect to the development of the share of the domestic government bonds held by credit institutions in their total assets and in the government debt of the country. Finally, a correlation between the share and the government debt (in total and to GDP) is determined.
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