4.5.1.4 Substitutable Collateral

The attributes required for reclassification of substitutable collateral to HQLA level is taken at a less granular level. Currently, the application expects specific details of the asset substitutable as collateral such as the instrument code, issuer code, guarantor code and so on. Since such a substitution has not yet occurred, a generic set of attributes is defined within the contract for the assets substitutable in the future. For instance, the contract states the issuer type, guarantor type and product of the asset which are substituted. In the event of substitution, the specific assets which is substituted has these broad attributes along with asset specific details. The broad characteristics are sufficient for HQLA classification.