Receivables

The word receivables has no legal definition, but is used to mean the amounts owed to a business by debtors. It is wider in scope than the term book debts.

In the context of a securitisation, receivables represent the assets (for example, music royalties) or debts (for example, mortgage loans) purchased by a special purpose vehicle from the originator (that is, the entity that generated the assets or debts).

For more on the different types of receivables which are typically securitised, see Practice note, Types of securitisation.

See also Practice note, Securitisation: overview: box, Receivables in a securitisation.