After the financial crisis, Turkish banks found that they could continue to securitize diversified payment rights (DPRs) without the by-then worthless insurance wraps. Some banks have also found that they can also do without arrangers from abroad.   

A case in point is active issuer Garanti Bank. In early April, it self-led and privately issued a 2014-A series of DPR program for $550 million.

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