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fully supported ABCP transaction

150(in SECN) means an ABCP transaction supported by a liquidity facility, at transaction level or at ABCP programme level, that covers at least all of the following:

  1. (a) all liquidity and credit risks of the ABCP transaction;
  2. (b) any material dilution risks of the exposures being securitised in the ABCP transaction; and
  3. (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.