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Treatment of shortfalls - CASS Provision: Difference between revisions
Treatment of shortfalls - CASS Provision (view source)
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{{ | {{cassanat|6.6.54}} | ||
''The equivalent provision under CASS 7 (for {{t|client money}} discrepancies) is CASS {{cassprov|7.15.29}}'' | ''The equivalent provision under CASS 7 (for {{t|client money}} discrepancies) is CASS {{cassprov|7.15.29}}'' | ||
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Usually the [[fail]] will be quickly remedied, but if it isn’t the [[prime broker]] must reduce its customers’ [[credit exposure]] as a result of the shortfall. It does this by putting its own assets (or money) aside, on trust, for the affected clients. | Usually the [[fail]] will be quickly remedied, but if it isn’t the [[prime broker]] must reduce its customers’ [[credit exposure]] as a result of the shortfall. It does this by putting its own assets (or money) aside, on trust, for the affected clients. | ||
==={{cassprov|Qualifying money market fund}}s to fulfill the [[Shortfall - CASS Provision|shortfall]]?=== | ==={{cassprov|Qualifying money market fund}}s to fulfill the [[Shortfall - CASS Provision|shortfall]]?=== | ||