Syndication is the creation of securities based on a pool of underlying assets; and the value and income payments of the created securities are derived from the underlying assets.

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Syndication refers to the process of pooling resources or assets by multiple parties to achieve a common goal, such as funding a large project or loan, rather than creating securities based on a pool of underlying assets. The creation of securities based on a pool of underlying assets describes securitization, not syndication.

Syndication Is the Creation of Securities Based on a Pool