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Collateral, or collateral security, is an asset pledged by a borrower to a lender to support a credit request. Examples include vehicles for car loans, homes for mortgages, or marketable securities like stocks and bonds for margin loans. When an asset is pledged, the credit exposure is considered secured, contrasting with unsecured borrowing, which lacks specific collateral. A lender typically registers a security interest, known as a lien or charge, against the pledged asset, such as a vehicle's serial number or a property's title. In commercial lending, a general security agreement may register security charges against all of a borrower's assets, providing comprehensive coverage.
