Title[ Part 2: The First Pillar - Minimum Capital Requirements
Section[ 3. Clean-up call
545. A clean-up call is an option that permits the securitisation exposures (e.g. asset- backed securities) to be called before all of the underlying exposures or securitisation exposures have been repaid. In the case of traditional securitisations, this is generally accomplished by repurchasing the remaining securitisation exposures once the pool balance or outstanding securities have fallen below some specified level. In the case of a synthetic transaction, the clean-up call may take the form of a clause that extinguishes the credit protection.
Contents
Prev
Next
Last
