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securitisation special purpose entity

  1. 121[Note: article 4(44) of the Banking Consolidation Directive (Definitions)]180
    1. (1) [deleted]209180132
    2. (2) (in MIPRU) a corporation, trust or other entity that has the following characteristics:132
      1. (a) it is organised for carrying on a securitisation or securitisations (within the meaning of paragraph (2) of the definition of securitisation);
      2. (b) its activities are limited to those appropriate to accomplishing such securitisation or securitisations; and
      3. (c) its structure is intended to isolate its obligations from those of the originator.
    [Note: article 4(44) of the Banking Consolidation Directive (Definitions)]180