Maintenance Act, 1998
R 385
credit-enhancement facility
means any facility or arrangement in terms of which the provider of such a facility or obligor under the arrangement is obliged to absorb losses associated with-
| a) | the assets transferred in terms of a traditional securitisation scheme; or |
| b) | the risk transferred in terms of a synthetic securitisation scheme, |
including both a first-loss credit-enhancement facility and a second-loss credit enhancement facility;
