Economics · Banking and Finance
What is the meaning of the term 'Collateral' in banking?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1An asset pledged as security for a loan✓
- 2A form of digital payment
- 3A type of credit card
- 4An investment portfolio
Correct answer
An asset pledged as security for a loan
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