**What is the meaning of the term 'collateral' in the context of the banking system?** A) Collateral is an asset that the government provides to farmers. B) Collateral is an asset that a borrower owns and uses this as a guarantee to a lender until the loan is repaid. C) Collateral is an asset that a borrower took as a loan. D) Collateral is an asset of the government that is used for the protection of consumers. Click Link for Answer