EFTA Document EFTA01363156

(a) in case of transfer of credit risk, the transfer is achieved by: •-• the economic transfer of the assets being securitised to an entity separate Tram the originator created for or serving the purpose of the securitization. This is accomplished by the transfer of ownership of the socuntised assets from the originator or through sub- participation. or ._ the use of credit derivatives. guarantees or any similar mechanism; and (b) where Such securities. securitization fund units, debt in