Template:M summ Credit Derivatives 4.2: Difference between revisions
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[[4.2 - Credit Derivatives Provision|Differences]] with Section {{isdaprov|5(a)(vii): | [[4.2 - Credit Derivatives Provision|Differences]] with Section {{isdaprov|5(a)(vii)}}: | ||
*Doesn’t cover [[credit support provider]]s (being an ISDA concept, not hugely relevant to debt securities) or {{cddprov|guarantor}}s (but that is converted elsewhere, directly). | *Doesn’t cover [[credit support provider]]s (being an ISDA concept, not hugely relevant to debt securities) or {{cddprov|guarantor}}s (but that is converted elsewhere, directly). | ||
*Simplified provision (d) which is less bothered about who institutes the proceedings, and less particular about the types of formal insolvency process one can go through, so is a bit more “[[fair large and liberal]]”. | *Simplified provision (d) which is less bothered about who institutes the proceedings, and less particular about the types of formal insolvency process one can go through, so is a bit more “[[fair large and liberal]]”. | ||
*No catch-all “analogous proceedings” rider at the end to sweep up weirdo jurisdictions. | *No catch-all “analogous proceedings” rider at the end to sweep up weirdo jurisdictions. | ||
Revision as of 10:27, 24 April 2023
Differences with Section 5(a)(vii):
- Doesn’t cover credit support providers (being an ISDA concept, not hugely relevant to debt securities) or guarantors (but that is converted elsewhere, directly).
- Simplified provision (d) which is less bothered about who institutes the proceedings, and less particular about the types of formal insolvency process one can go through, so is a bit more “fair large and liberal”.
- No catch-all “analogous proceedings” rider at the end to sweep up weirdo jurisdictions.