In a securitization transaction, a bankruptcy-remote special purpose entity (SPE) that acts as a central repository for the collection and pooling of the assets to be securitized. The assets are often acquired from multiple originators, and subsequently sold by the depositor to the issuer of the asset-backed securities (ABS) in the transaction. The depositor is also known as the "intermediate SPE" (ISPE), or mutli-seller conduit (see Practice Note, Securitization: US Overview: Multi-Seller Conduits ("Two-Step" Securitizations)). The depositor is created by the transaction's sponsor solely for the purpose of undertaking a particular securitization transaction, and conducts no other business.

Like the issuer, the depositor is usually an affiliate of the transaction's sponsor or primary originator. In US securitizations, the depositor is often a Delaware entity.

Note that in a securitization transaction with no ISPE, the arranger (or sponsor) pools the assets to be securitized before they are transferred to the issuer.

For further details on the depositor on a securitization, see Practice Note, Securitization: US Transaction Parties and Documents: The Depositor.