Asset encumbrance is when a bank has to pledge its assets - the loans and investments it has made - to a creditor when borrowing from that creditor.

BBC: Business

And if the banks pledge all their assets to institutional lenders of various sorts, we might worry whether there is anything left to pay us back with.

BBC: Business

In today's world, where it is impossible to borrow in an unsecured way, banks can't afford to lose the assets they pledge to other financial institutions in a repo operation.

BBC: Where to find bank stress

That implies Greek banks have almost no spare assets to pledge for secured loans, if they are to keep anything back to cover the money they have borrowed in the form of deposits from ordinary Greek citizens.

BBC: Business

And since the assets you've pledge would be worth considerably more than the loan, that risk of the so-called counterparty collapsing isn't worth taking.

BBC: Where to find bank stress

The University of Wales Council announced Adduned Cymru - The Wales Pledge - on Monday to ensure that the assets it holds will continue to benefit the whole of Wales both before and after the merger.

BBC: University of Wales: Trusts formed to protect assets