When a corporation pools credit receivables and uses them as collateral for the sale of bonds it is engaged in semi-direct finance.

Name: When a corporation pools credit receivables and uses them as collateral for the sale of bonds it is engaged in semi-direct finance.
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This process is known as securitization, not semi-direct finance. It involves the direct issuance of securities backed by a pool of assets to investors in the capital markets.

When a Corporation Pools Credit Receivables and Uses Them as Collateral