SECURITIZATION is the process of financing assets by the issuance of asset-backed securities, as opposed to traditional secured financings. Asset securitization has developed and expanded in the last two decades and now accounts for more than $450 billion of financings per year in the US. This book, comprising 16 national reports, provides a comprehensive survey of the law and practice of securitization in the major jurisdictions in which securitizations have been carried out. It reviews the principle assets commonly securitized and the development of the market in each country, facilitating a quick comparison of the different jurisdictions. Legal aspects of the most important structures are analyzed in detail, including the establishment of special purpose vehicles, credit enhancement techniques and security issues. There is detailed discussion of tax accounting issues, and commentary on specialized issues such as public offerings of asset-backed securities and cross-border considerations. Securitization is a practical and useful guide for practitioners working in international law firms, financial advisors and investment bankers.