Bank that securitizes receivables, often also referred to as the originating bank (the entity that originated the assets to be securitised). – Sometimes, instead of originator, one also speaks of initiator. However, this term should only be used for a company that establishes a special purpose vehicle that does not have securitization of receivables as a business purpose, such as a leasing special purpose vehicle or a pension fund company. – (re)insurance company that securitizes assumed risks via – mostly tranched – catastrophe bonds, usually to
Hedge fund passes on. – See back-to-originator postulate, single-originator securitization, embedded-value securitization, insurance-linked securities, credit extension, credit card fiasco, credit commitment, irrevocable, originate-to-distribute strategy, package, pay-green initiative, pool, rating, reintermediation, retrocession, kickback effect, repayment, early, tranche, securitization, securitization paper retention, XXX-insurance-linked securities, special purpose vehicle. – Cf. Deutsche Bundesbank Monthly Report of September 2004, p. 85 f., Deutsche Bundesbank Monthly Report of March 2006, p. 40 (overview), BaFin Annual Report 2008, p. 55 (retention rules).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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