Standard Reference Obligation - Credit Derivatives Provision

2014 ISDA Credit Derivatives Definitions
A Jolly Contrarian owner’s manual™

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Section 2.6 in a Nutshell™

Use at your own risk, campers!

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Full text of Section 2.6

Section 2.6 Standard Reference Obligation. “Standard Reference Obligation” means the obligation of the Reference Entity with the relevant Seniority Level which is specified from time to time on the SRO List. view template

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You can just see ISDA’s crack drafting squad™ just disappearing deep into the forest like a child with a bag full of breadcrumbs, can’t you. Will they get out alive? Will we ever see them again? We find ourselves harking for a jolly woodsman to come to the rescue and hack all this Russian-doll definitionery down to size.

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