Glossary

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Term Definition Legal instruments

fully secured liability

01/08/2016

THIS DEFINITION ONLY APPLIES TO THE CONTRACTUAL RECOGNITION OF BAIL-IN PART

means a liability which, at the time it is created, is fully secured and governed by contractual terms that oblige the debtor to maintain the liability fully collateralised on a continuous basis in compliance with regulatory requirements of EU law or of the law of a third country achieving effects that can be deemed equivalent to EU law.