Citicorp, a major bank, has a large Visa operation. In the past, it regularly took the cash flows from the monthly payments that customers make on their Visa accounts, securitized them, and sold the resulting bonds to investors. Marketable securities have been backed by car loans, credit card receivables, railcar leases, small‐business loans, photocopier leases, aircraft leases, and so forth. The assets that can be securitized seem to be limited only by the imagination of the packagers, as evidenced by the fact that securitized asset types came from a variety of sources including royalty streams from films, student loans, mutual fund fees, tax liens, monthly electric utility bills, and delinquent child support payments.