Credit Event (CREV):

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Credit Event (CREV)

Status: Finalised Last Updated: 24 May 2021

SFTR Report – NONE | Corporate Action Cluster – Non-Economic or Information | Cash Move – N

Description:
An occurrence of credit derivative for which the issuer of one or several underlying securities is unable to fulfil his financial obligations (as defined in terms and conditions).

Best Practice:
When a non-economic or information only event occurs, relevant static data should be updated by both parties as soon as possible after the event where applicable. (COAC-11)