An undertaking, trust or other unit, established for a specific purpose, the activities of which are limited solely to the purpose of the special purpose vehicle, and the structure of which is intended to separate the special purpose vehicle from the risk of default of the originator or seller of positions. Special purpose vehicles are usually used as financing vehicles, in which exposures to are sold to a trust property or a similar entity and are paid for in cash or by transferring of other assets, which are financed by means of debt securities issued by the trust property.
German: Zweckgesellschaft (882)
Source: FMA AT m. e. E., 30.10.2018
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