The phrase "array of collateral" is correct and usable in written English.
It can be used in contexts related to finance, law, or risk management, where it refers to a variety of assets or guarantees that support a loan or obligation.
Example: "The bank required an array of collateral to secure the loan, including property deeds and investment accounts."
Alternatives: "variety of collateral" or "collection of collateral".
The exception is the ECB's Long Term Refinancing Operation (LTRO), which provides banks with three-year liquidity at its main interest rate, currently 1%, against a wide array of collateral.
That is the importance of its decision on March 16th to lend money directly to cash-strapped investment banks and brokers and to accept a broader array of collateral, including mortgage-backed and other investment-grade securities.
Non-banks like Goldman and Morgan Stanley were tossed a lifeline in March, given access to the Fed's emergency lending window in return for putting up an array of collateral.
The Federal Reserve all but insured against another large meltdown by opening its lending window to brokerage companies (including Lehman) and accepting a much broader array of collateral than it previously would.
On September 12th Mervyn King, Mr Dodge's counterpart at the Bank of England, also appeared sceptical of the merits of accepting a broad array of assets as collateral, unless the situation gets much worse.
He opened Fed lending to non-banks, he offered financing at discounts to companies such as General Motors Corp., he began having the Fed buy assets in an array of categories and taking collateral for loans that was not highly rated.
This operation is where G.E. built its reputation as an expert in assessing the value and risks of collateral backing a broad array of loans, and isn't far off from its business of financing customers of the conglomerate's leading manufacturing activities, from jet engines to hospital equipment to energy turbines.
They use the excuse of collateral damage".
Lack of collateral was invariably the reason.
"There's a lot of collateral damage".
"The amount of collateral damage is huge.
