Mutual guarantee schemes (which is the preferred term, although "mutual guarantee systems" has also been used) are cooperative organisations in which a number of independent undertakings combine to take joint action to provide each other with the necessary securities, in the form of guarantees, to raise capital from commercial sources
Member States may fully or partially exempt the following exposures from the application of paragraphs 1, 2 and 3: r) subject to the competent authorities' agreement, guarantees other than loan guarantees which have a legal or regulatory basis and are given for their members by mutual guarantee schemes possessing the status of credit institutions, subject to a weighting of 20 % of their amount
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