fully supported ABCP programme
150(in SECN) means an ABCP programme that its sponsor directly and fully supports by providing to the securitisation special purpose entity one or more liquidity facilities covering at least all of the following:
- (a) all liquidity and credit risks of the ABCP programme;
- (b) any material dilution risks of the exposures being securitised; and
- (c) any other ABCP transaction-level and ABCP programme-level costs if necessary to guarantee to the investor the full payment of any amount under the asset-backed commercial paper.