Firstly, the concept of credit risk will be briefly explained. This is followed by a general survey and classification of the different techniques available for the transfer of credit risk. The paper focuses on the capital market products and more precisely on the technique of securitisation. For a good understanding of the technique, we will elaborate the basic scheme and provide a concise overview of the use and the different types of securitisation. In the second part the emphasis is put on the application of securitisation as a tool for the transfer of credit risk. We will explore the legal and accounting requirements which have to be met for that purpose. The characteristics of the Special Purpose Entity as well as the "true sale" concept hold the limelight in this research. We will also briefly explore the principles of the different Generally Accepted Accounting Standards, with special attention to the IFRS.