New Security has the meaning set forth in Section 4.18(a).
LCR Security means any commercial paper or security (other than equity securities issued to Parent or any Originator that is a consolidated subsidiary of Parent under GAAP) within the meaning of Paragraph __.32(e)(viii) of the final rules titled Liquidity Coverage Ratio: Liquidity Risk Measurement Standards, 79 Fed. Reg. 197, 61440 et seq. (October 10, 2014).
Loaned Security means any “security” which is delivered as a Loan under a Securities Loan Agreement; provided that, if any new or different security shall be exchanged for any Loaned Security by recapitalization, merger, consolidation, or other corporate action, such new or different security shall, effective upon such exchange, be deemed to become a Loaned Security in substitution for the former Loaned Security for which such exchange was made.
Quasi-Security means an arrangement or transaction described in paragraph (b) below.
Exempt Security means any: (1) direct obligation of the Government of the United States, including all state and municipal obligations; (2) bankers’ acceptance, bank certificate of deposit, commercial paper, bank repurchase agreement and other high quality short-term debt instrument; (3) shares issued by registered open-end mutual funds (including money-market funds) and unit investment trusts, in each case provided they are not Reportable Funds or ETFs (as such terms are defined herein); and (4) Securities in an account over which you do not have any direct or indirect influence or Control (note that there is a presumption that you can exert some measure of influence or control over accounts held by members of your immediate family sharing the same household, but this presumption may be rebutted by convincing evidence acceptable to the Chief Compliance Officer in accordance with this Code);