Credit Event (CREV)

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

Status: Best Practice Finalised, Last Updated: 24/05/2021

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 fulfillfulfil 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)