first loss tranche
Definitions over time (1)
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17/01/2018 – 09/04/2021 Article 2, Securitisation Regulation Scope: Whole act
For the purposes of this Regulation, the following definitions apply:
‘first loss tranche’ means the most subordinated tranche in a securitisation that is the first tranche to bear losses incurred on the securitised exposures and thereby provides protection to the second loss and, where relevant, higher ranking tranches.
Other definitions of this term in this act (1)
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Used in (0 places in 0 provisions on 12/11/2026)
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