(f)

Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast) (Text with EEA relevance) · European Union

Where there is a clean-up call option, the following conditions are satisfied: The clean-up call option is exercisable at the discretion of the originator credit institution; The clean-up call option may only be exercised when 10 % or less of the original value of the exposures securitised remains unamortised; and The clean-up call option is not structured to avoid allocating losses to credit enhancement positions or other positions held by investors and is not otherwise structured to provide credit enhancement; and

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.