My first guess for the source of such collateral would be US and UK government bonds.

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In contrast, capital market restrictions are a targeted economic sanction that avoids "collateral damage" to US companies, they say.

CENTERFORSECURITYPOLICY: Center For Security Policy

The destruction of housing values left many US consumers without collateral for loans, and without a means for refinancing as their properties were worth less than what they had paid for them.

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Once a municipal bond is refinanced, (prerefunded) the issuer uses the proceeds of the new issue and purchases US Treasury securities (collateral) that are used to pay the interest and principal on the original, more expensive debt until maturity or the call date, whichever the escrow agreement states.

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Some would naturally respond that it's similarly a violation of property rights when investors are bailed out on the backs of taxpayers, so regulations requiring more collateral to support risky deals are necessary to save us from investor mistakes that we'll be made to pay for.

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That issue of the "collateral consequences" from bank spanking was cited by US Assistant Attorney General Lanny Breuer when explaining why the Department of Justice had chosen not to "fully prosecute" HSBC for its money laundering and sanctions breaching offences - and had instead put the bank on probation with a deferred prosecution agreement.

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Our industry will have to shoulder the brunt of the collateral economic damage if the incessant proposals from the entertainment industry in the US and around the world were to be enacted.

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It seems the US government may soon be the proud owner of 400, 000 pounds of sugary collateral.

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The compounding pharmacy scandal has caused still more collateral damage and, this time, it involves one of the largest supermarket chains in the US. Who are we talking about?

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But it stretches credulity to ask us to believe that he hadn't used the assets of his other companies as collateral to shore up his bank.

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