Credit enhancement and liquidity facilities: conditions for liquidity providers and disclosure requirements govern use and limitations. The regulation permits credit enhancement and use of a liquidity facility by special purpose distinct entities subject to full disclosure and detailed conditions: the provider must be regulated, the facility separately documented and arms length, fees not subordinated, limited in amount and duration, restricted to specific drawdown circumstances with priority on cash flows once drawn, and prohibited from serving as permanent support or funding recurring or final investor payments; non compliance causes the facility to be treated as credit enhancement.