Any property or physical Asset (such as vehicles or equipment) with monetary value, given as Security for repayment of a Debt. Collateral is often called many other names in a Securitisation – Assets, Properties, Receivables, or Security. It is the Assets which underlie the Securitisation, the cash flows they generate, and any other cash, Assets or reserves owned by the SPV that form Collateral for a Securitisation.
For the purposes of this glossary, Receivable will be used to describe the Loan, Lease, hire purchase or other financial contract whose cash flows underlie the Securitisation. Assets will refer to the Receivables AND other cash reserves available to the Securitisation.