English

Definition of collateral noun from the Oxford Advanced Learner's Dictionary

 

collateral

 noun
noun
BrE BrE//kəˈlætərəl//
 
; NAmE NAmE//kəˈlætərəl//
 
Banking
 
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[uncountable] (finance) property or something valuable that you promise to give to somebody if you cannot pay back money that you borrow We had put our house up as collateral for our bank loan. See related entries: Banking Word Origin late Middle English (as an adjective): from medieval Latin collateralis, from col- ‘together with’ + lateralis (from latus, later- ‘side’). Sense (1) of the noun (originally US) is from the phrase collateral security, denoting something pledged in addition to the main obligation of a contract.
See the Oxford Advanced American Dictionary entry: collateral

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