In securitisations which are not 'true sale', the underlying exposures are not transferred to such an issuer entity, but rather the credit risk related to the underlying exposures is transferred by means of a derivative contract or guarantees.
Pri listinjenjih, ki niso „prava prodaja“, se na takšen izdajateljski subjekt ne prenesejo osnovne izpostavljenosti, ampak se s pogodbo o izvedenem finančnem instrumentu ali jamstvi prenese kreditno tveganje, povezano z osnovnimi izpostavljenostmi.