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Failure to Pay, DUST and Cross Default under the ISDA: Difference between revisions
Failure to Pay, DUST and Cross Default under the ISDA (view source)
Revision as of 12:42, 10 August 2017
, 10 August 2017no edit summary
Amwelladmin (talk | contribs) (Created page with "For those who think it is useful to understand the interaction between {{isdaprov|Failure to Pay}}, {{isdaprov|DUST}} and {{isdaprov|Cross Default}}. *'''{{isdaprov|FTP}}'''...") |
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*'''{{isdaprov|FTP}}''' covers payment under delivery defaults directly under the {{isdama}} | *'''{{isdaprov|FTP}}''' covers payment under delivery defaults directly under the {{isdama}} | ||
*'''{{isdaprov|DUST}}''' covers trades under other master trading agreements (and distinct {{isdama}}s — unlikely, but not impossible) ''between the same two parties'' | *'''{{isdaprov|DUST}}''' covers trades under other master trading agreements (and distinct {{isdama}}s — unlikely, but not impossible) ''between the same two parties'' | ||
*'''{{isdaprov|Cross Default}}''' covers Specified Indebtedness (unless you’re odd, that means [[borrowed money]]) between the counterparty and any third party. | *'''{{isdaprov|Cross Default}}''' covers {{isdaprov|Specified Indebtedness}} (unless you’re odd, that means [[borrowed money]]) between the [[counterparty]] and any [[third party]]. | ||