Template:M comp disc Credit Derivatives 4.8

Not really any great comparisons here: this sort of event would be long since have triggered a Cross Default under an ISDA for example (assuming the Default Requirement triggered the Threshold Amount for a Cross Default — though the Default Requirement would likely be a lot lower — a credit insuitution’s Cross Default threshold would typically be in the order of 3% shareholder equity which, even if distressed, would be higher than the USD10mm fallback amount embedded in a Default Requirement).