What does ASSET LIQUIDITY RISK mean?

ASSET LIQUIDITY RISK meaning in Law Dictionary

The RISK of reduction arising from an inability to sell or pledge POSSESSIONS at, or near, their carrying worth when needed; a subcategory of LIQUIDITY DANGER. See in addition ASSET FUNDING LIQUIDITY POSSIBILITY, ENDOGENOUS LIQUIDITY RISK, EXOGENOUS LIQUIDITY RISK, FUNDINGLIQUIDITY DANGER.