EBU Single Rulebook Q&A 26 June 2024 2024_7124 Exposure to credit institutions in the form of derivative contracts

Should "exposure" also consider and include cash collateral held by the covered bond issuer from its swap counterparty? Covered bonds are normally hedged with swaps, especially for currency risk and especially by issuers outside the Eurozone when issuing in EUR (issuers in Norway for example).