over collateralisation

      1. (1) (in RCB) (as defined in Regulation 3(3) of the RCB Regulations) the provision of additional assets that assist the payment from the relevant asset pool of claims attaching to a regulated covered bond in the event of the failure of the issuer.
      1. (2) (in SECN) means any form of credit enhancement by virtue of which underlying exposures are posted in a value which is higher than the value of the securitisation positions.
Glossary Legal Instruments