As a result of the banking and Euro crisis many businesses in the real economy, as well as banks and other financial services providers, are faced with the problem of finding dependable and sustainable liquidity.
In the light of this the sale of receivable portfolios as part of a securitization is a sensible addition to previous forms of refinancing which are often unsecured.
In spite of a massive reduction in the volumeof securitizations during the crisis, there has been a gradual recovery in the market. Not only banks but corporates too are making increasing use of securitization as a financial instrument.
When planning a securitization transaction corporates have to manage many different aspects including complex IT demands regarding the structuring of portfolios, the presentation of cash flows, the building of reserves and waterfalls as well as setting up a comprehensive reporting system for investors and other stakeholders.
Some arranging banks have already recognised the problems for their business customers and offer appropriate services to clients planning a transaction – as well as gaining them a competitive advantage over other arrangers in the market who are not able to support their business clients in this area.
Our aim is to act as a servicer for both corporates and banks as originators, as well for arranging banks, and to reduce the costs associated with the operational handling of a securitization. TXS Securitization Services can be easily integrated into the service offering of the corporate finance department of an arranging bank, or can be provided directly by TXS. TXS securitization services can be separated into two areas: Processing Services and Application Services.
These services are aimed at those businesses which have not built up their own infrastructure for securitizations and which would prefer to leave the handling of securitization transactions to the specialists at TXS. TXS offers the following services which can also be used independently:
Our staffs prepare the monthly reports for investors as well as the payment reports. Other necessary documents such as offer letters and associated documents can be optionally provided as well.
Our staffs manage the transaction as well as the associated pool and carry out the monthly sale or purchase of assets. TXS guarantees that any change to the underlying pool will conform to all eligibility criteria, concentration limits and other contractual provisions.