Barclays.comSecured Funding
Barclays undertakes securitisations of (i) own originated assets and (ii) third party assets through a variety of vehicles/transactions structures.
Barclays objectives in securitising its own assets include:
- obtaining regulatory capital relief;
- reducing credit risk; and
- obtaining term liquidity for the Group balance sheet.
The Group has securitised its own assets in the following asset classes:
- credit cards;
- residential mortgage loans; and
- corporate loans.
In addition the Group has a UK FSA registered covered bond programme. Barclays currently uses this programme to issue residential mortgage backed covered bonds.
In this section there is information on Barclays own originated securitisations bracketed by asset class. Within each class there is a brief overview of the transaction structure and performance. These summaries should not be regarded as exhaustive and are for information purposes only. These summaries do not disclose the risks and other significant issues related to an investment in the securities and are not a prospectus for any of the securities described. Investors should only subscribe for any securities described here on the basis of information in the relevant prospectus.
Credit Cards
Barclays securitises credit card receivables through the Cumbernauld and Gracechurch structures.
Corporate Loans
Barclays securitises corporate loans through the Gracechurch Corporate Loans structure.
Covered Bonds
Barclays has established a UK FSA Regulated Covered Bond Programme.
Residential mortgage loans
Barclays securitises residential mortgage loans through the Gracechurch Mortgage Funding/Financing structures.
