21. DGSs should limit their exposure to debt, whether public or private, the value of which is …

DGSs should limit their exposure to debt, whether public or private, the value of which is highly correlated to events where the DGS would have to repay depositors or contribute to resolution and, therefore, might have to call the payment commitment. However the currency of denomination of the debt should not be considered for this purpose as it would place excessive constraints on the ability to provide collateral. Moreover, in line with the principle of proportionality, for small institutions which are not able to deliver assets as collateral compliant with this requirement, the level of correlation may be higher, as long as the overall level of correlation within the DGSs’ portfolio remains low.

1. Forbhreathnú

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

3. Caighdeáin ghaolmhara

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