Glossary

Helpful A-Z glossary listing key Lloyds Banking Group terms and their definition

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U

Uncovered ABS

ABS held without the benefit of separately purchased matching credit default swaps to protect against the risk of default of the security.

Unencumbered assets - readily realisable

Assets regarded by the Group to be readily realisable in the normal course of business, to secure funding, meet collateral needs, or be sold to reduce potential future funding requirements, and are not subject to any restrictions on their use for these purposes.

Unencumbered assets - other realisable

Assets where there are no restrictions on their use to secure funding, meet collateral needs, or be sold to reduce potential future funding requirements, but are not readily realisable in the normal course of business in their current form.

Unencumbered assets - cannot be used

Assets that have not been pledged but which the Group has assessed could not be pledged and therefore could not be used to secure funding, meet collateral needs, or be sold to reduce potential future funding requirements.