SECN 5.6 Retention of the originator’s interest in a revolving securitisation of revolving exposures

1The retention of the originator’s interest of not less than 5% of the nominal value of each of the securitised exposures as referred to in SECN 5.2.8R(1)(b) shall only be considered fulfilled where the retained credit risk of such exposures ranks pari passu with or is subordinated to the credit risk securitised in relation to the same exposures.