(1) An off balance sheet SE
Exposure will receive a 100% CCF unless:
Exposure qualifies as an eligible liquidity facility, or
Exposure is an eligible Servicer cash advance facility.
(2) In relation to (1), an eligible
Servicer cash advance facility is a facility provided to a securitisation in order to ensure uninterrupted flow of payments to investors. As long as the Servicer is entitled to full reimbursement and this right is senior to all other claims on cash flows from the underlying pool of Exposures, and where these facilities meet the requirements of PIB 4.14.44 and are unconditionally cancellable at any time, any undrawn commitments can then have a 0% CCF applied.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]