The bank wants to give you an incentive to pay back the loan. If they did not hold your assets as collateral, you could simply fail to pay back the loan and really not lose anything other than your credit score. Many borrowers already have tarnished credit scores, so that is rarely enough incentive to base a loan on.
I would put this into your own words considering I copied and pasted it. Other than that I hope this helps!
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Vasco de Gama sailed around Africa to reach India
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Lenin established free education across Russia after the revolution. Children were taught communist beliefs, but they were also taught about the rest of the world. Another benefit was that Lenin established the eight-hour workday, which significantly improved working conditions.
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Quebec was founded in 1608 by a guy named Samuel de Champlain. Some other towns had been added before Quebec, but Quebec was the first town that was meant to be a permanent settlement, and not just a simple trading post that was to be taken down after a few years of use.