True Sale International GmbH (TSI) emerged in 2004 from a banking initiative in Germany to promote the German securitisation market.

Shaping the future together. Sustainable financing

with Asset Based Finance.

Asset Based Finance in Germany and TSI - the two are closely linked. True Sale International GmbH (TSI) emerged in 2004 from a banking initiative in Germany to promote the German securitisation market. Today, TSI's topics go well beyond this and cover broad areas of the asset-based finance market. However, the securitisation business remains the core of our activities.

In accordance with its founding mission, TSI's original objective was to give banks in Germany the opportunity to securitise their own loans under German law and on the basis of a standardised procedure agreed with all market participants, and to create a brand for German quality securitisations. After all, securitisations are an excellent fit for the predominantly bank-based corporate financing system in Germany with its broad SME sector.

The ‘DEUTSCHE VERBRIEFUNGSSTANDARD’ (German Securitisation Standard) has set standards for transparency, investor information, exclusion of originate-to-distribute structures (OTD) as well as loan origination and processing standards and was a forerunner of today's Europe-wide STS standard.

With events that attract more than 1,000 participants annually, our website and our public relations work, we shape the German market for securitisation and covered finance. We always look to expand our horizons and cover current trends for the market such as blockchain, lending platforms and the impact of digitalisation as well as changes in the financial and real economic environment.

Shareholder Banks of TSI

True Sale International GmbH
Mainzer Landstraße 61
60329 Frankfurt am Main

Tel:+49 69 2992 170

Managing Director
Jan-Peter Hülbert

TSI's VAT ID number is

Commercial register: Frankfurt/Main Local Court
Register number: HRB 73065

Lobby Register: German Bundestag
Register number: R001019


  • 100% TSI Services GmbH
  • 100% STS Verification International GmbH
  • 3.8 % European Data Warehouse

STS verification

TSI is actively involved in the STS verification of European quality securitisations through its independent subsidiary STS Verification International GmbH (SVI).

TSI certification

CERTIFIED BY TSI - DEUTSCHER VERBRIEFUNGSSTANDARD stands for the high quality of German securitisation transactions.

German SPV

Since 2005, TSI Services GmbH, a wholly owned subsidiary of TSI, has provided German special purpose vehicles ("SPV") using German law.


At our events, the values of networking and orientation are at the centre of our activities. Our diverse training and event programme reaches more than 1,000 participants from all market sectors every year.

Our business fields

Since we were founded in 2004 to promote the German securitisation market a lot has changed.
Today, our topics go far beyond this and cover wide areas of the asset-based finance market.


To Our Business Areas & Topics


TSI's management will be happy to help you with technical questions and explain TSI's structures in detail.

Jan-Peter Hülbert

Managing Director