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Assets - tradeable securities.

To convert non-tradeable assets into tradeable securities.

For example turning non-tradeable assets, like residential mortgage loans, into tradeable assets (such as mortgage-backed securities).

This is often undertaken through a securitisation special purpose vehicle.

The credit risk of the assets is divided into tranches, and payments to the investors are dependent on the performance of the assets.

When a special purpose vehicle is used, the assets are transferred to the special purpose vehicle, which then issues securities.

Non-performance of underlying assets is a key risk for investors, and was one of the triggers for the Global Financial Crisis (GFC).

Originators & Sponsors in securitisation
"For the purposes of the Securitisation Regulation, the Originator of an asset is either a party that was directly or indirectly involved in the original creation of the asset, or acquired the asset for its own account and then securitised it.
... the Sponsor of a securitisation is a party that sets up the securitisation and manages it, but does not securitise its own assets."
Originator - Sponsor - the Treasurer's Wiki.

See also