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security (finance)

   Also found in: Legal, Financial, Encyclopedia, Wikipedia 0.06 sec.

security

In finance, assets that may be sold if a borrower defaults on a loan. For example, when a person takes out a mortgage on a house, the house acts as security for the lender. If the person cannot carry on paying the mortgage, the lender can repossess the house and sell it to get back the money owed. Another example would be a person offering stocks and shares as security for a bank loan. In work, job security is freedom from fear of dismissal.
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