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A key feature of the {{isdaprov|Cross Default}} {{isdaprov|Event of Default}} in the {{isdama}}. This is the level over which accumulated [[indebtedness]] defaults comprise an {{isdaprov|Event of Default}}. Because of the [[snowball effect]] that a {{tag|cross default}} clause can have, it needs to be high. for a bank, typically 2 or 3% of [[ | A key feature of the {{isdaprov|Cross Default}} {{isdaprov|Event of Default}} in the {{isdama}}. This is the level over which accumulated [[indebtedness]] defaults comprise an {{isdaprov|Event of Default}}. Because of the [[snowball effect]] that a {{tag|cross default}} clause can have, it needs to be high. for a bank, typically 2 or 3% of [[tier 1 capital|shareholder equity]] or USD100,000,000 — for a fund an equivalent portion of [[NAV]]. |