over collateralisation
- 116(1) (in RCB) (as defined in Regulation 3(3) of the RCB Regulations) the provision of additional assets that assist the payment from the relevant asset pool of claims attaching to a regulated covered bond in the event of the failure of the issuer.
- 116(2) (in SECN) means any form of credit enhancement by virtue of which underlying exposures are posted in a value which is higher than the value of the securitisation positions.