+Article 325ac 3.

Article 325ac 3.

Nth-to-default products shall be treated as tranched products with the following attachment and detachment points:

(a) 

attachment point = (N – 1) / Total Names;

(b) 

detachment point = N / Total Names;

where ‘Total Names’ shall be the total number of names in the underlying basket or pool.

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