Special Purpose Vehicle (SPV)
German: Zweckgesellschaft
A legal entity created to hold a defined asset pool and issue claims against it, isolating that pool from the originator balance sheet.
Why people look this up
Structuring readers who want to know why almost every RWA issuance has an SPV and what determines whether the isolation actually holds.
Auf Deutsch
Zweckgesellschaft — Eine eigens errichtete Rechtsperson, die einen abgegrenzten Vermögenspool hält und Ansprüche darauf ausgibt, um den Pool von der Bilanz des Originators zu trennen.
Related terms
Looking for how this maps to its traditional-finance counterpart rather than a standalone definition? See the Term Bridge, which also flags where the obvious analogy is wrong.