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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

guarantee

      1. (1) (in LR) (in relation to securitised derivatives), either:
        1. (a) a guarantee given in accordance with LR 19.2.2 R (3) (if any); or
        1. (b) any other guarantee of the issue of securitised derivatives.
      1. (2) (in PRR70) (as defined in the PR Regulation70) any arrangement intended to ensure that any obligation material to the issue will be duly serviced, whether in the form of guarantee, surety, keep well agreement, mono-line insurance policy or other equivalent commitment.14