Hypothecation

Goldman Sachs Tower – banks that provide prime brokerage services are able to expand their trading operations by re-using collateral belonging to their counter-parties.

Hypothecation is the practice where (usually through a letter of hypothecation) a debtor pledges collateral to secure a debt or as a condition precedent to the debt, or a third party pledges collateral for the debtor. A common example occurs when a debtor enters into a mortgage agreement, in which the debtor's house becomes collateral until the mortgage loan is paid off.

单词	Letter of hypothecation
释义	Letter of hypothecation 英语百科 Hypothecation Hypothecation is the practice where (usually through a letter of hypothecation) a debtor pledges collateral to secure a debt or as a condition precedent to the debt, or a third party pledges collateral for the debtor. A common example occurs when a debtor enters into a mortgage agreement, in which the debtor's house becomes collateral until the mortgage loan is paid off.
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Letter of hypothecation

Hypothecation