67 Loan Securitization Exclusion This exclusion applies to an issuer of ABS if its underlying assets are comprised solely of: loans (defined as any loan, lease, extension of credit, or secured or unsecured receivable that is not a security or derivative) rights or other assets designed to assure the servicing or timely distribution of proceeds to security holders or related or incidental to purchasing or otherwise acquiring, and holding loans, subject to certain limitations certain interest rate or foreign exchange derivatives that (i) directly relate to the loans in the issuing entity, the related ABS or certain related contractual rights or assets and (ii) reduce the interest rate and/or foreign exchange risks related to such loans, the related ABS or permitted contractual rights or assets
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