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Recital 4

Recital 4

(4)Part Three, Title II, Chapter 3, of Regulation (EU) No 575/2013 contains terminology that applies to purchased receivables only, and not to securitised exposures. To give full effect to the empowerment laid down in Article 255(9) of Regulation (EU) No 575/2013, it is necessary to tailor the terminology used in that Chapter to the specific context of securitisation transactions.

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