securitisation
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:
‘securitisation’ means a transaction or scheme, whereby the credit risk associated with an exposure or a pool of exposures is tranched, having all of the following characteristics: payments in the transaction or scheme are dependent upon the performance of the exposure or of the pool of exposures; the subordination of tranches determines the distribution of losses during the ongoing life of the transaction or scheme; the transaction or scheme does not create exposures which possess all of the characteristics listed in Article 147(8) of Regulation (EU) No 575/2013.
Other definitions of this term in this act (1)
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