The book provides a comprehensive overview of the new instruments for credit risk transfer, such as credit derivatives, asset-backed securities, and synthetic securitizations. Each instrument is systematically presented, including its various forms and developments, and variants for liquidity generation and risk transfer are elaborated upon. Additionally, the book offers an introduction to fundamental valuation models for credit risk transfer instruments, the regulatory aspects of their use by credit institutions, and their accounting. Finally, the use of these instruments in the risk management of credit institutions is discussed, along with considerations of the potential implications these new instruments may have for financial markets and financial market stability.