February 2007 - This article is intended to provide a brief overview of the common features of true sale securitisation transactions in Central and Eastern Europe (CEE). In a true sale securitisation, an originator generally transfers a pool of its assets to a special purpose vehicle (SPV) and the SPV finances the purchase by issuing debt instruments into the capital markets. A true sale is only achieved if the transfer legally isolates the assets from the insolvency risk of the originator.

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