Asset securitisation
0823-en RE330 Code of Obligations (CO, General/Special Part) As of 11.07.2026
Form of risk transfer for credit-based or other types of exposures, in which they are incorporated into an entity formed for this purpose, which issues securities on the capital market for refinancing purposes, the repayment of which is bound to the servicing of the acquired exposures (traditional securitisation). In the case of synthetic securitisations on the other hand, it is not the outstanding exposures that are sold, but the credit risk contained that is transferred using credit derivatives, and therefore synthetic hedge is conducted.
Deutsch
Verbriefung von Forderungen 0823-de
Form des Risikotransfers von Kredit- oder anderen Forderungen, bei dem diese in ein eigens gegründetes Unternehmen eingebracht werden, das zur Refinanzierung Wertpapiere am Kapitalmarkt emittiert, deren Rückzahlung an die Bedienung des erworbenen Forderungsbestandes geknüpft ist (traditionelle Verbriefung). Bei synthetischen Verbriefungen wird hingegen nicht der Forderungsbestand verkauft, sondern das enthaltene Kreditrisiko mit Hilfe von Kreditderivaten übertragen und damit eine synthetische Gegenposition (Hedge) begründet.
Suggested citation
Asset securitisation (0823-en), in: LAWPEDIA®-Glossar, provided by LAWCONSULT AG, www.lawconsult.ch/lawpedia/en/asset-securitisation, as of: 11.07.2026 [accessed on …].
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