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Default Under Specified Transaction - ISDA Provision: Difference between revisions
Default Under Specified Transaction - ISDA Provision (view source)
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{{ | {{isdaanat|5(a)(v)}} | ||
{{ | Often confused with {{isdaprov|Cross Default}}. In fact, they're meant to be mutually exclusive. That won’t stop folks conflating, them. Look, we all do it. | ||
This is like {{isdaprov|Cross Default}}, but for non "borrowing" style transactions - for example [[swap|swap agreements]] agreements and [[repo]]s, '''but only transactions between the two counterparties and their referenced {{isdaprov|Credit Support Provider}}s and {{isdaprov|Specified Entities}}'''. | This is like {{isdaprov|Cross Default}}, but for non "borrowing" style transactions - for example [[swap|swap agreements]] agreements and [[repo]]s, '''but only transactions between the two counterparties and their referenced {{isdaprov|Credit Support Provider}}s and {{isdaprov|Specified Entities}}'''. | ||