P.M.I. protects lenders against foreclosures, which are more common among those with less equity in the house.

The agency, Moody's Investors Service, said it regarded the buildings as potential targets and wanted to make sure they were sufficiently insured to protect lenders.

Covenants protect lenders by allowing them to call loans if a company fails to meet its requirements.

The result has been a slew of new financial instruments intended to protect lenders or borrowers against sharp changes in interest rates.

In the most simple formulation, a bank's capital is the "cushion" for potential losses, and protects the bank's depositors and other lenders.

In finance these are conditions imposed on loans and bonds to protect lenders against default.

The loan business, however, has turned out to be enormously profitable, thanks to handsome government subsidies and regulations that protect lenders against losses if students default.

The policy can be tailored to protect buyers and sellers as well as lenders and tenants.

Private mortgage insurance protects lenders if borrowers default.

It's thus no surprise that lawmakers are apt to protect lenders and not students.