+Article 24 5.

Article 24 5.

Where the transfer of the underlying exposures is performed by means of an assignment and perfected at a later stage than at the closing of the transaction, the triggers to effect such perfection shall include at least the following events:

(a) 

severe deterioration in the seller credit quality standing;

(b) 

insolvency of the seller; and

(c) 

unremedied breaches of contractual obligations by the seller, including the seller’s default.

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