Australian Securitisation Conference 2007

Pre-registration: Wednesday, 28 November 2007
5.30 pm	Conference pre-registration and opening of the Australian Securitisation Exhibition Welcome drinks function - Sponsored by HSBC

Conference Day One: Thursday, 29 November 2007
9.00 am	ASF welcome Andrew Stabback, Director, InAssociation introduces Phil Vernon, Chairman, Australian Securitisation Forum
THE STATE OF THE MARKET
9.05 am	Keynote panel discussion The global issues of 2007 Why has 2007 become a watershed year for change? How did risk change its spots so quickly? The role of federal banking systems and how they have responded The latest developments in Europe: SIVs, Super-SIVs, SIV lites and conduits The changing landscape of risk, rates and structures Lessons to be learnt: Understanding the new global investor appetite Chaired by Phil Vernon, Chairman, Australian Securitisation Forum Philippe Tromp, Chairman, European Securitisation Forum Frank Dubas, Managing Partner International Securitisation, Deloitte and Touche LLP Stephen Condon, Technical Specialist, Structured Finance Policy, Financial Services Authority Paul Jorissen, Partner, Mayer Brown LLP
9.50 am	Presentation Primary ABS outlook - where do we go from here? Recent market conditions and ABS Syndicate process accommodating change What the future holds for deal execution Adam Gaydon, Managing Director, Head of European ABS Syndicate, Société Générale Corporate & Investment Banking Anthony Bell, Director, Australasian ABS Syndicate, Société Générale Corporate & Investment Banking DOWNLOAD PRESENTATION HERE
10.20 am	Panel discussion Is Australia open for business? The key events that got us here Are we there yet (i.e. the bottom)? Is Australia open for business? Financial markets New business/funding Any 'no-go' areas What's next? Opportunities Be bold or conservative Any areas of caution Chaired by Gary Sly, Director Securitisation, ANZ Panellists: Sally Auld, Senior Interest Rate Strategist, ANZ Sarah Percy-Dove, Head of Credit Research, ANZ Nick Fyffe, Director Structured Sales, ANZ DOWNLOAD PRESENTATION HERE
10.50 am	Morning tea networking break Visit the Australian Securitisation Exhibition
OPPORTUNITIES FROM CHANGE
11.10 am	Keynote presentation Reserve Bank of Australia Open market operations and changes A discussion on the changes to the repo eligibility criteria Dr. Guy Debelle, Assistant Governor (Financial Markets), Reserve Bank of Australia DOWNLOAD SPEECH HERE DOWNLOAD PRESENTATION HERE
11.40 am	Presentation Australia's RMBS market: Finding the new equilibrium How the sub-prime crisis has changed Australia's RMBS market Balancing the liquidity premium against positive collateral, supply/demand & regulatory dynamics How will issuance strategies adjust in the new marketplace? Adam Donaldson, Head of Debt Research, Commonwealth Bank of Australia DOWNLOAD PRESENTATION HERE
12.10 pm	Panel discussion Buy-side views from domestic and international investors RMBS investor appetite - what has changed and why? International investors and a relative view of global versus local assets Understanding liquidity from the investor’s perspective What is the level of information required to satisfy investors in the new environment? Has the CMBS market and other asset classes been affected like the RMBS sector? Chaired by Philip McEwen, Director Securitisation, Westpac Institutional Bank Panellists: Martin Wehling, Executive Director, Treasury, DZ Bank Tony Togher, Head of Short Term Investments, Colonial First State Global Asset Management Bob Sahota, Senior Portfolio Manager, Challenger Financial Services Group Nick Bishop, Portfolio Manager, Aberdeen Asset Management Robert Camilleri, Senior Manager - Credit, Portfolio Partners Bruce Potts, Portfolio Manager, Alliance Capital Management
12.50 pm	Luncheon Presentation Emerging trends in the LMI and mortgage market A broad overview of the housing market An overview of Genworth’s experiences over various business cycles Emerging market trends and issues as seen from an LMI providers perspective Genworth’s US portfolio experience and implications for the Australian market Paul Caputo, Chief Risk Officer, Genworth Financial DOWNLOAD PRESENTATION HERE
1.50 pm	Presentation Australian RMBS performance - analysing performance by characteristic Conforming versus non-conforming State versus state Low doc versus full doc versus no doc Investment versus owner occupied Fixed versus variable rate Interest-only versus P&I Bank versus non-bank Ben McCarthy, Managing Director, Fitch Ratings DOWNLOAD PRESENTATION HERE
MOVING INTO NEW LANDSCAPES
2.20 pm	Presentation Outlook for the Australian property market: 2008-2010 Economic outlook Residential demand Residential price forecasts Ian Graham, CEO, PMI Mortgage Insurance DOWNLOAD PRESENTATION HERE
2.50 pm	Keynote panel discussion How issuers will go forward in the new environment What will be the significant changes to the business model in the near term? How has the new market affected product offerings? What will be the themes for issuers in 2008? Chaired by Paul Jenkins, Partner, Blake Dawson Panellists: Sherman Ma, Managing Director, Liberty Financial Andrew Chepul, Director, Columbus Capital Alistair Jeffery, Founder and CEO, Bluestone Kim Cannon, CEO, FirstMac Mary Ploughman, Director Securitisation, RESIMAC Kevin Stephenson, Global Head of Treasury, Macquarie Bank (PUMA)
3.20 pm	Afternoon tea networking break Visit the Australian Securitisation Exhibition
3.40 pm	Presentation Transparency in the new world Representations and warrants Third-party oversight Standardisation of information Enhanced monitoring Moody’s initiatives Arthur Karabatsos, Assistant Vice President - Analyst, Structured Finance, Moody's Investors Service DOWNLOAD PRESENTATION HERE
4.10 pm	Panel discussion Stepping on the gas: The rise of auto securitisation in Australia What are the drivers for securitising autos? Why are we now seeing bigger auto deals? How does the process compare to securitising mortgages? What has been the investor reception - onshore and offshore? Chaired by Kevin Lee, Division Director, Debt Finance, Macquarie Bank Panellists: Bruce Potts, Portfolio Manager, Alliance Capital Management Roger Desmarchelier, Chief Manager Group Securitisation, St.George Bank Lloyd Thomas, Macquarie Leasing Anthony Cutcliffe, Executive Director, UBS Principal Finance Asia DOWNLOAD PRESENTATION HERE
4.40 pm	Panel discussion Ratings developments in non-mortgage backed securitisation Outlook and rating issues for CDOs CMBS - what’s next? Directions and trends for other ABS Chaired by Belinda Smith, Senior Director, Standard & Poor's Panellists: Mei Lee Da Silva, Director, Standard & Poor's Luke Elder, Director, Standard & Poor's Kate Thomson, Director, Standard & Poor's Narelle Coneybeare, Associate Director, Standard & Poor's
5.10 pm	Presentation Emotions and economics: Oil and water or nitro and glycerine? Development of the sub-prime crisis and spillover to the ABS market Primary and secondary markets' evolution What is the emotional impact that the sub-prime crisis has had on the market? (i.e. How it has affected investors' confidence more broadly than the sub-prime problem?) What are the key economic drivers in the European market and how they are affecting the European asset-backed markets? Stephen McCabe, Director, Structured Products and Securitisation, Société Générale Corporate & Investment Banking DOWNLOAD PRESENTATION HERE
5.40 pm	Concluding remarks and close of Conference Day One Andrew Stabback, Director, InAssociation ASF Christmas Cocktails function - open to all conference delegates
7.30 pm	2007 ASF Gala Dinner (by ticket only) Including the ASF Distinguished Service Award presentation Featuring the Scared Weird Little Guys Sponsored by BNY Trust Australia
10.30 pm	ASF Gala Dinner After Party (entry included in Gala Dinner ticket) At the Dome, Art House Hotel, Pitt Street, Sydney Sponsored by FirstMac

Conference Day Two: Friday, 30 November 2007
8.45 am	Opening summary A brief summary of the ASF committee activity in 2007 What will the ASF be doing for its members in 2008? Education Committee update Market Standards and Practices Committee Update Roger Desmarchelier, Chair, Education Committee, ASF Graham Mott, Market Standards and Practices Committee, ASF DOWNLOAD PRESENTATION HERE
A NEW MARKET AND REGULATORY ENVIRONMENT
9.00 am	Presentation The great SIV unwinding toll on structured finance markets Development of the SIV/conduit market from a historical perspective The credit crisis impact on leveraged investment vehicles How have SIVs responded to the squeeze? "Super-SIV": A permanent cure or postponing the inevitable? The future without SIVs Ganesh Rajendra, Managing Director and Head of Securitisation Research Europe and Asia, Deutsche Bank DOWNLOAD PRESENTATION HERE
9.30 am	Keynote presentation APRA's new Basel II rules for securitisation A detailed discussion on the new APS 120 standard Changes to the securitisation rules resulting from Basel II implementation APRA's view of securitisation as a prudential issue Heidi Richards, General Manager Supervision Support, Australian Prudential Regulation Authority (APRA) DOWNLOAD SPEECH HERE
10.00 am	Panel discussion Basel II: Impact on the Australian securitisation market - overview of capital requirements Incentives for issuing banks - which assets will be securitised? Impact on the buy side - banks as investors? What does it mean for structuring deals? Chaired by John Barry, Head of Securitisation Australasia, nabCapital Panellists: Eva Zileli, Senior Manager, Securitisation and Funding, NAB Brian Salter, Partner, Clayton Utz Jennifer Konstantopoulos, Senior Manager, PricewaterhouseCoopers DOWNLOAD PRESENTATION HERE
10.30 am	Morning tea networking break Visit the Australian Securitisation Exhibition
INTERNATIONAL MARKETS AND ASSETS UPDATE
10.50 am	Presentation Update on the US securitisation market Impact on business Lessons learned Expected "recovery" Tri-party repo Patrick Tadie, Executive Vice President, Global Structured Finance Group, Corporate Trust Division, The Bank of New York Mellon Harold Fudali, Managing Director, Collateral & Trust Services, The Bank of New York Mellon
11.20 am	Presentation Auto and credit card securitisation: Developments in non-mortgage securitisation from the US and Europe The US market has been led by issuance from credit card and auto issuers Programmatic offerings provide useful insights for securitisations of any assets Ryan Lindstrom, Vice President, European Securitised Products, JPMorgan For more information on this presentation, please email here
11.50 am	Presentation Planes, trains & automobiles: Inventory and movable asset securitisation Inventory and movable assets – what are these? Why these deals are not entirely straight cash flow securitisations What particular legal issues arise with inventory and movable assets? Auto and fleet deals – main differences and impacts Aircraft and rail assets – some more peculiarities Where to next – maritime assets, what role for synthetics? Tessa Hoser, Partner, Freehills Lachlan Roots, Partner, Freehills DOWNLOAD PRESENTATION HERE
12.20 pm	Presentation Coping with sub-prime overhang Sizing the downside A post-mortem of the liquidity/credit crunch European fallout in investments and markets Plumbing the depths for value What to buy What to avoid Life after death of the SIV/Conduit/CDO bid Ronald Thompson, Head of Securitisation Research Strategy & Credit Research, Royal Bank of Scotland DOWNLOAD PRESENTATION HERE
12.50 pm	Where to go from here? How is the crystal ball looking? A wrap-up of the current market conditions and suggestions on what the industry has learnt and how the international asset-backed industry can go forward. What products may work in a Basell II and post-credit crunch world? Will there be buyers for structured and enhanced products? Structuring , tiering and the role of credit enhancement in the future ABS synthetics and capital protected products of the future Chaired by Ronald Thompson, Head of Securitisation Research Strategy & Credit Research, Royal Bank of Scotland Panellists: Craig Lee, Managing Director Asia Pacific, Assured Guaranty Bill Barden Director, Structured Credit Products, HSBC Leo Tyndall, Head of Securitisation, Australia and New Zealand, UniCredit Berkeley Cox, Partner, Mallesons Stephen Jaques
1.15 pm	Luncheon Chris Green, General Manager Debt Markets, Perpetual Corporate Trust introduces special guest speaker, TV personality and ex-Test rugby league player Matthew Johns
2.15 pm	Closing remarks Phil Vernon, Chairman, Australian Securitisation Forum Close of ABS 2007 and Australian Securitisation Exhibition Buses depart Hilton Sydney for Regatta
3.00 pm	4th Annual ASF Regatta (by invite only) Sponsored by Assured Guaranty
3.15 pm	ASF Harbour Cruise (by invite only) Meet at the Man-o-War Wharf, Sydney Opera House at 3.00pm
6.00 pm	Regatta prize giving and drinks function For participants of ASF Regatta and Harbour Cruise only Cruising Yacht Club of Australia, Rushcutters Bay