In Germany, where the first asset securitisations occurred in 1995, the issuing of asset-backed securities has become a fast and effective way to finance your growth strategies and raise capital..

Combining industry expertise and financial strength with a solid commitment to technology advancements, our clients and the marketplace, State Street has played a key role in the asset securitisation market since its inception in the mid-1980s. Our securitisation services are provided to owners and originators of assets across a broad range of industries worldwide and include:

• Financial advisory services
• Transaction origination and structuring
• Credit enhancement
• Placement of securities

As a major provider for this market, we offer an unrivalled level of experience and knowledge. Our global network affords us an in-depth perspective of world financial markets as we currently manage four asset-backed commercial papers conduits with a volume of over USD 18 billion in outstanding commercial paper (issuance is effected in Europe, the United States and Australia). In Europe, we launched Galleon Capital LLC in 1994, to enable our clients to take advantage of the increasing expansion into non-U.S. money markets. Galleon was one of the first asset-backed commercial paper programs to introduce multicurrency capabilities.

State Street's structured finance specialists have successfully performed a multitude of transactions in Europe, Australia and the United States, and our Munich team has been focusing on clients in Germany and throughout Europe since 1998.

We design our securitisation services to provide investors with the capital they need — backed by the benefits of competitive pricing and risk management. Additional advantages of our services include:

• Competitive costs — Our multicurrency capabilities give you the opportunity to achieve efficient funding in commercial paper markets worldwide.
• A flexible, diverse funding source — Our funding facilities are easily amended or expanded to meet your changing needs, and offer an attractive alternative to traditional financing facilities.
• Leveraging existing relationships — Our clients' traditional banks can be involved in the transaction structure by acting as liquidity banks.

Our structured products cover a wide range of asset classes including:

• Auto loans/leases
• Credit card receivables
• Residential mortgages
• Consumer loans
• Student loans
• Equipment loans/leases
• Trade receivables
• Employee loans
• Collateralised debt obligations
• Premium finance loans
• Tax-exempt assets

For more information on our asset securitsation capabilities, please contact Ralf Schmitt, via phone at +49 89 55878 301 or via email at rschmitt@statestreet.com.