How is the date of origination of a credit exposure underlying an ABS determined in the case of revolving extension of credit arrangements?
For underlying credit exposures that are in the form of loans drawn under an existing arrangement to extend credit (e.g., draws under a floorplan line of credit or new fundings under a loan secured by leases to a rental car company), the origination date of the underlying credit exposure is the date on which the loan was drawn or funded and not the date on which the arrangement for the extension of credit (e.g., the floorplan line of credit or the revolving loan arrangement) was put in place.
Related Questions
- What does "all or substantially all" mean in the context of determining whether the credit exposures underlying an ABS meet the U.S.-domiciled obligors criteria?
- How is the date of origination of a credit exposure underlying an ABS determined in the case of revolving extension of credit arrangements?
- Should personal lines of credit be reported on the Qualifying Revolving Exposure (QRE) worksheet or on the Other Retail worksheet?
