25. For the purposes of paragraph 24, institutions may rely on a single legal opinion to support …

For the purposes of paragraph 24, institutions may rely on a single legal opinion to support multiple unfunded credit protection arrangements where it relates to the same applicable law. Institutions should obtain additional legal opinion relating to any substantive variation to the terms of the contract that could affect the legal effectiveness and enforceability of the arrangement of the specific unfunded credit protection. At a minimum, changes in the legal framework applicable to the unfunded credit protection arrangement and the application of such unfunded credit protection arrangement to other types of exposures, or the use of guarantors classified to other exposure classes or to other types of guarantors, meaning individual persons or legal entities, should always be considered cases of substantive variation to the terms of the contract.

1. Forbhreathnú

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

3. Caighdeáin ghaolmhara

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