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*'''[[Repudiation]] evidence''': [[Repudiation]] was modified in two significant ways: | *'''[[Repudiation]] evidence''': [[Repudiation]] was modified in two significant ways: | ||
:*The phrase “or challenges the validity of” was added after “disaffirms, disclaims, repudiates or rejects” to reduce ambiguity as to whether a party’s action constitutes a repudiation; and | :*The phrase “or challenges the validity of” was added after “disaffirms, disclaims, repudiates or rejects” to reduce ambiguity as to whether a party’s action constitutes a repudiation; and | ||
:*to stiffen the criteria for something to count as a [[repudiation]] so as to require [[In writing|written evidence]] from the repudiating party of its [[extended middle finger]]. This is really an articulation of common sense, for it would be a brave risk officer indeed who closed out an {{isdama}} based on | :*to stiffen the criteria for something to count as a [[repudiation]] so as to require [[In writing|written evidence]] from the repudiating party of its [[extended middle finger]]. This is really an articulation of common sense, for it would be a brave risk officer indeed who closed out an {{isdama}} based on oral communication, or the [[proverbial extended middle finger]], for which she could not subsequently produce in fairly compelling evidence. But still. | ||
*'''Widened definition of {{{{{1}}}|Specified Transaction}}''': The “{{{{{1}}}|Specified Transaction}}” concept has been broadened to include additional transaction types such as | *'''Widened definition of {{{{{1}}}|Specified Transaction}}''': The “{{{{{1}}}|Specified Transaction}}” concept has been broadened to include additional transaction types such as [[repo]]s, and to include a catchall clause designed to include any future derivative products that have not been thought of yet. | ||