By Charlotte GAUCHON
16 June 2025
Securitisation is a sophisticated financial mechanism based on legal vehicles specifically designed to isolate assets and issue securities. For companies seeking to optimise their balance sheet or access new sources of finance, understanding how these entities work is essential. In France, securitisation vehicles are the mainstay of these operations. They enable assets, often receivables, to be transformed into negotiable financial instruments. Navigating this protective yet complex legal framework requires a precise knowledge of the options available and their implications. The complete guide to securitisation and its implications for banking and financial law provides an overview of these mechanisms. This article focuses on the legal structures at the heart of the French system: the fonds commun de titrisation (FCT) and the société de titrisation (ST). History and development of securitisation vehicles in France The introduction of the...
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