American English

Definition of collateral noun from the Oxford Advanced American Dictionary

 

collateral

 noun
noun
NAmE//kəˈlæt̮ərəl//
 
[uncountable] (finance)
 
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property or something valuable that you promise to give to someone if you cannot pay back money that you borrow We had put our house up as collateral for our bank loan.
See the Oxford Advanced Learner's Dictionary entry: collateral

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