COLLATERAL is a term to describe:

The entire intellectual and physical assets that go into your Captone Project:

ideas, writings, scripts, style-guides, desgins, resources, storyboards, visual development, animatics, motion tests, sketches concept drawings, audio, etc...

...all which result in a finished animation work.

The content you provide each week in your progress report is the Collateral.

Metaphorically speaking, Collateral is the required payment toward the completion of your finished Capstone. As you may not pass the class if your Capstone is unfinished, this is a vital concept.