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A capital trust is a unique type of financial trust that sets itself apart from other trusts by taking on a more fixed income-like structure, rather than functioning as an equity issue. Typically issued by banks and other financial intermediaries, capital trusts trade like a debt instrument with a face value of $1,000 and accrue interest. The main purpose of a capital trust is to acquire and hold assets that generate income for distribution to unit holders. These assets can include residential mortgages, mortgage co-ownership interests, mortgage-backed securities, and other eligible debt obligations, all of which are typically acquired and serviced by the issuing institution and its affiliates.
