TRS
a total return swap: the risk and the return of an asset without owning it
In more detail
A total return swap: the bank buys the securities for itself and passes all their income and all their loss to the customer for a fee. The legal owner is the bank, the economic owner the customer.
It was invented for convenience: the customer gets the position they want without the bother of custody and reporting.
In the academy “TRS” is not a definition but an operation: you post it yourself and watch what it does to the balance sheet.