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Cross default: Difference between revisions
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This is a page about the general concept of [[cross default]]. | This is a page about the general, generally stupid, concept of [[cross default]]. | ||
==Before we start== | ==Before we start== | ||
===As a standard term in master trading | ===As a standard term in [[master trading agreement|master trading agreements]]=== | ||
For specific provisions see: | For specific provisions see: | ||
*{{isdaprov|Cross Default}} ({{tag|ISDA}}) | *{{isdaprov|Cross Default}} ({{tag|ISDA}}) | ||
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===Compare and contrast=== | ===Compare and contrast=== | ||
*'''[[Default under specified transaction]]''': | *'''[[Default under specified transaction]]''': {{t|DUST}} is ''like'' [[cross default]], but just between you and me, on [[derivative]] transactions and without a {{isdaprov|Threshold Amount}}; | ||
*'''[[Cross acceleration]]''': like [[cross default]], only for a kinder, gentler world where people wait for indebtedness to be actually [[accelerated]] before closing out their exposures. | *'''[[Cross acceleration]]''': like [[cross default]], only for a kinder, gentler world where people wait for [[indebtedness]] to be actually [[accelerated]] before closing out their exposures. | ||
==History== | ==History== | ||