Type IV securities

Type IV securities
A category of investment securities defined by the Office of the Comptroller of the Currency ( OCC) (12 CFR 1). This is a category added in the 1996 amendments. A Type IV security is any one of the following:
(1) A small business-related security as defined in section 3( a)(53)( A) of the Securities Exchange Act of 1934,15 USC 78c( a)(53)( A), that is rated investment grade or is that is the credit equivalent of investment grade and that is fully secured by interests in a pool of loans to numerous obligors.
(2) A commercial mortgage-related security that is offered or sold pursuant to section 4(5) of the Securities Act of 1933 that is rated investment grade or that is the credit equivalent of investment grade.
(3) A commercial mortgage-related security as described in section 3( a)(41) of the Securities Exchange Act of 1934, 15 USC 78c( a)(41), that is rated investment grade in one of the two highest investment grade rating categories, that represents ownership of a promissory note or certificate of interest of participation that is directly secured by a first lien on one or more parcels of real estate upon which one or more commercial structures are located, and that is fully secured by interests in a pool of loans to numerous obligors.
(4) A residential mortgage-related security that is offered and sold pursuant to section 4(5) of the Securities Act of 1933, 15 USC 77d(5), that is rated investment grade or is the credit equivalent of investment grade.
(5) A residential mortgage-related security as described in section 3( a)(41) of the Securities Exchange Act of 1934,15 USC 78c( a)(41), that is rated investment grade in one of the two highest investment grade rating categories and that does not other wise qualify as a Type I security.

Financial and business terms. 2012.

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