1. When the loan is guaranteed by collateral, crowdfunding service providers shall ensure that valuation of the collateral takes into account all of the following information:
information about the maturity of the collateral;
for financial collaterals, the latest available price for the collateral and the average price over the previous 12 months on a liquid and traded market;
for physical collaterals, the latest available market value;
information about the existence of a market to liquidate the collateral readily;
a measure of the volatility of the value of the collateral.
2. In the absence of a market to establish objectively a price or market value for the collateral, crowdfunding service providers shall consider all of the following information:
the assumptions that have been used to assess the value of the collateral;
the frequency with which the value can readily be obtained, including a professional appraisal or valuation.
3. For the purposes of paragraphs 1 and 2, crowdfunding service providers shall have in place policies and procedures to monitor the value of collateral.