The Transferor receives a price from the securitisation vehicle
for the asset transferred that takes the inherent risks into
consideration.
The Securitisation Vehicle receives the securitised asset
from the Transferor which is financed by the issue of registered
or bearer transferable securities.
All income received by the Securitisation Vehicle is transferred
to the holder of the securities without any tax friction.
Debt, a credit portfolio, transferable securities, tangible
and intangible assets, movable and immovable property may
all be securitised.
Securitisation can also be synthetic; that is to say, without
transfer of ownership of the asset to be securitised.
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