most senior protected tranche
Defined in Article 1, Commission Delegated Regulation (EU) 2024/920
Definitions over time (1)
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11/04/2024 – today applies on 11/11/2026 Article 1, Commission Delegated Regulation (EU) 2024/920 Scope: Whole act
For the purposes of this Regulation, the following definitions shall apply:
‘most senior protected tranche’ in a securitisation means the least subordinated tranche in terms of distribution of losses that benefits from eligible credit protection under the credit protection agreement;