senior securitisation position

Uses as of 01/01/2019

Definitions over time (1)

01/01/2019 – today applies on 01/01/2019 Article 242, Capital Requirements Regulation (CRR) Scope: Part III Title II Chapter 5

For the purposes of this Chapter, the following definitions apply:

‘senior securitisation position’ means a position backed or secured by a first claim on the whole of the underlying exposures, disregarding for these purposes amounts due under interest rate or currency derivative contracts, fees or other similar payments, and irrespective of any difference in maturity with one or more other senior tranches with which that position shares losses on a pro-rata basis;