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Article 1 - Definitions

Article 1

Definitions

For the purposes of this Regulation the following definitions apply:

(a) 

retainer’ means the entity acting as originator, sponsor or original lender which retains a net economic interest in the securitisation in accordance with Article 405(1) of Regulation (EU) No 575/2013;

(b) 

Synthetic form of retention’ means retention of economic interest through the use of derivative instruments;

(c) 

Contingent form of retention’ means retention of economic interest through the use of guarantees,  letters of credit ◄ and other similar forms of credit support ensuring an immediate enforcement of the retention;

(d) 

Vertical tranche’ means a tranche which exposes the holder of the tranche to the credit risk of each issued tranche of the securitisation transaction on a pro-rata basis.



In Force

Version from: 28/10/2015

Amendment History