Secured funding transaction definition
Secured funding transaction means any funding transaction that is subject to a legally binding agreement as of the calculation date and gives rise to a cash obligation of the national bank or Federal savings association to a counterparty that is secured under ap- plicable law by a lien on assets owned by the national bank or Federal sav- ings association, which gives the counterparty, as holder of the lien, pri- ority over the assets in the event the national bank or Federal savings asso- ciation enters into receivership, bank- ruptcy, insolvency, liquidation, resolu- tion, or similar proceeding. Secured funding transactions include repur- chase transactions, loans of collateral to the national bank’s or Federal sav- ings association’s customers to effect short positions, other secured loans, and borrowings from a Federal Reserve Bank.
Secured funding transaction means any funding transaction that is subject to a legally binding agreement that gives rise to a cash obligation of the national bank or Federal savings asso- ciation to a wholesale customer or counterparty that is secured under ap- plicable law by a lien on securities or loans provided by the national bank or Federal savings association, which gives the wholesale customer or counterparty, as holder of the lien, pri- ority over the securities or loans in the event the national bank or Federal sav- ings association enters into receiver- ship, bankruptcy, insolvency, liquida- tion, resolution, or similar proceeding. Secured funding transactions include repurchase transactions, securities lending transactions, other secured loans, and borrowings from a Federal Reserve Bank. Secured funding trans- actions do not include securities.
Secured funding transaction means any funding transaction that is subject to a legally binding agreement that gives rise to a cash obligation of the national bank or Federal savings asso- ciation to a wholesale customer or counterparty that is secured under ap- plicable law by a lien on securities or loans provided by the national bank or Federal savings association, which gives the wholesale customer or counterparty, as holder of the lien, pri- ority over the securities or loans in the event the national bank or Federal sav- ings association enters into receiver- ship, bankruptcy, insolvency, liquida- tion, resolution, or similar proceeding. Secured funding transactions include repurchase transactions, securities lending transactions, other secured loans, and borrowings from a Federal Reserve Bank. Secured funding trans- actions do not include securities. Secured lending transaction means any lending transaction that is subject to a legally binding agreement that gives rise to a cash obligation of a wholesale customer or counterparty to the na- tional bank or Federal savings associa- tion that is secured under applicable law by a lien on securities or loans pro- vided by the wholesale customer or counterparty, which gives the national bank or Federal savings association, as holder of the lien, priority over the se- curities or loans in the event the counterparty enters into receivership, bankruptcy, insolvency, liquidation, resolution, or similar proceeding. Se- cured lending transactions include re- verse repurchase transactions and se- curities borrowing transactions. Se- cured lending transactions do not in- clude securities.