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CA-6.4.39

For uncommitted retail credit lines (e.g. credit card receivables) in securitisations containing controlled early amortisation features, conventional bank licensees must compare the three-month average excess spread defined in Paragraph CA-6.2.8 to the point at which the conventional bank licensee is required to trap excess spread as economically required by the structure (i.e. excess spread trapping point).

January 2015