Template:M summ Credit Derivatives 3.13: Difference between revisions

Template:M summ Credit Derivatives 3.13 (view source)

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 ==={{Cddprov|Prior Reference Obligation}}===
-There is a cheeky nod here to the {{cddprov|Successor}} cluster bomb in the shape of the {{cddprov|Prior Reference Obligation}}. Just what mischief {{icds}} thought it was heading off is not clear — surely the answer is to make sure your {{cddprov|Standard Reference Obligation}} table is up to date , not writing heath Robinson machines prescribing what to do it it is not
+There is a cheeky nod here to the {{cddprov|Successor}} cluster bomb in the shape of the {{cddprov|Prior Reference Obligation}}. Just what mischief {{icds}} thought it was heading off is not clear — surely the answer is to make sure your {{cddprov|Standard Reference Obligation}} table is up to date, not writing Heath Robinson machines prescribing what to do if it is not.
+For really, what guide to the real world is a Reference Obligation that once existed, but now does not? Whatever may have since happened, ''that'' obligation paid itself off. What happened of successor Reference Obligations have materially different terms, tenors, and default triggers?
+We may be about to find out. A DC question has been posed in exactly these terms in the fallout from the write -down of [[Lucky]]’s [[AT1]] bonds. The {{cddprov|Reference Obligation}} was indeed a {{cddprov|Prior Reference Obligation}}\Aaa that had matured a couple of years ago.
 ==={{Cddprov|Obligation Characteristics}}===