securitisation

Definitions over time (1)

17/04/2007 – 01/01/2014 Article 4, Directive 2006/48/EC (CRD) Scope: Whole act

For the purposes of this Directive, the following definitions shall apply:

‘securitisation’ means a transaction or scheme, whereby the credit risk associated with an exposure or pool of exposures is tranched, having the following characteristics: payments in the transaction or scheme are dependent upon the performance of the exposure or pool of exposures; and the subordination of tranches determines the distribution of losses during the ongoing life of the transaction or scheme;

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No text uses this concept on 11/11/2026.