Template:Dust capsule: Difference between revisions

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 {{{{{1}}}|Default Under Specified Transaction}} — colloquially, “{{{{{1}}}|DUST}}” — is often confused with {{{{{1}}}|Cross Default}}. In fact, they’re ''meant'' to be mutually exclusive. That won’t stop folks conflating them, though. Look, we all do it.
-{{{{{1}}}|DUST}} is ''like'' {{{{{1}}}|Cross Default}}, but where {{{{{1}}}|Cross Default}} references indebtedness owed to third parties, {{{{{1}}}|DUST}} is all about ''non''-“borrowing” style transactions — e.g., [[swap|swap agreements]], [[stock loan]]s<ref>I know these ''sound'' like borrowing transactions, but they’re fully collateralised, and in fact aren’t.</ref> and [[repo]]s, '''but only transactions between the two counterparties'''<ref>And — sigh — their {{{{{1}}}|Credit Support Provider}}s and {{{{{1}}}|Specified Entities}}.</ref>.
+{{{{{1}}}|DUST}} is ''like'' {{{{{1}}}|Cross Default}}, but where {{{{{1}}}|Cross Default}} references indebtedness owed to third parties, {{{{{1}}}|DUST}} is all about ''non''-“borrowing” style transactions — e.g., [[swap|swap agreements]], [[stock loan]]s<ref>I know these ''sound'' like borrowing transactions, but they’re fully collateralised, and in fact aren’t.</ref> and [[repo]]s, '''but only transactions between the two counterparties'''.<ref>And — sigh — their Credit Support Providers and Specified Entities.</ref>
-If a [[Counterparty]]<ref>Or — sigh — its {{{{{1}}}|Credit Support Provider}} or {{{{{1}}}|Specified Entity}}</ref> experiences an {{{{{1}}}|Event of Default}} under a [[swap]] agreement (or other “{{{{{1}}}|Specified Transaction}}”<ref>This is typically wide, though it excludes [[borrowed money]] — but check the Agreement!</ref> with you, this will be an {{{{{1}}}|Event of Default}} under the {{isdama}}.
+If a [[Counterparty]]<ref>Or — sigh — its Credit Support Provider or Specified Entity</ref> experiences an {{{{{1}}}|Event of Default}} under a [[swap]] agreement (or other “{{{{{1}}}|Specified Transaction}}”<ref>This is typically wide, though it excludes [[borrowed money]] — but check the Agreement!</ref> with you, this will be an {{{{{1}}}|Event of Default}} under the {{isdama}}.