Glossary

Looking for the right term then try the glossary:

Term Definition Legal instruments

unsecured liability

01/08/2016

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

means

(1) in respect of liabilities created on or before 31 July 2016, a liability under which the right of the creditor to payment or other form of performance is not (i) secured by a charge, pledge, lien or mortgage, or (ii) subject to other collateral arrangements, including liabilities arising from repurchase transactions and other title transfer collateral arrangements; and

(2) in respect of liabilities created after 31 July 2016, a liability that is not a fully secured liability.