Special Report on Securitization in Latin America highlights recent changes in securitization laws and techniques in the region. While this region's securitization markets are less developed than those of Europe or North America, several countries in Latin America and the Caribbean have taken steps to further develop the legal and financial infrastructure necessary to strengthen their securitization markets. Topics include: the popularity of future flow securitization in emerging markets and its benefits, including increased investor confidence and risk protection; the creation of receivable investment funds in Brazil through Resolution No. 2907 and the resolution's impact on the domestic securitization market in Brazil; the proliferation of special purpose vehicles, special purpose entities, and structured investment vehicles in the Cayman Islands; the structural and legal aspects of the Argentine asset-backed securitization market; and the first securitization of local payroll tax revenue by the state of Mexico.