+Article 249 4.

Article 249 4.

By way of derogation from paragraph 2, SSPEs shall be eligible protection providers where all of the following conditions are met:

(a) 

the SSPE owns assets that qualify as eligible financial collateral in accordance with Chapter 4;

(b) 

the assets referred to in point (a) are not subject to claims or contingent claims ranking ahead or pari passu with the claim or contingent claim of the institution receiving unfunded credit protection; and

(c) 

all the requirements for the recognition of financial collateral set out in Chapter 4 are met.

1. Overview

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1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

Requirements

3. Related Standards

Standards