The advantages at a glance

  • High market visibility of transactions conducted over the TSI securitisation platform
  • The provision of a German SPV via TSI is an established market standard that is well known to all supervisory authorities, the ECB and all other market players.
  • The provision of an SPV is based on German law. This gives investors legal security and also means that originators can obtain legally binding information from the German financial authorities.
  • Transactions may be awarded the certificate "CERTIFIED BY TSI ‒ DEUTSCHER VERBRIEFUNGSSTANDARD".
  • Three shareholders per SPV: as ABS investors, banks consequently do not need to observe "borrower unit" and "large loan" rules when ABS investments involve several transactions and they are thus unaffected by the "interest barrier".
  • Standardised, professional provision of a German SPV: already used in more than 110 securitisation transactions (as of December 2016)
  • SPV provided within three to four weeks with internationally competitive start-up costs and a professional service from a single source. TSI Services assumes all activities and expenses associated with establishing the SPV, hence only ONE service charge is levied to cover all establishment and endowment costs.

An all-round service from a single source

TSI can also provide the client and the SPV with additional management services through the TSI securitisation platform. These services are established in a service agreement and essentially include:

  • Information about general developments in the securitisation market and fundamental, transaction-neutral agreements with supervisory authorities, the legislative authority and/or federal authorities
  • Preparing the infrastructure for these management services
  • Essential coordination tasks between the SPV, the originator and the SPV shareholders