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Recital 19

Recital 19

(19)Credit events that trigger payments under the credit protection agreement should include at least those referred to in Chapter 4 of Title II of Part Three of Regulation (EU) No 575/2013. Such events are well-known and recognisable from a market perspective and should serve to ensure consistency with the prudential framework. Forbearance measures, which consist of concessions towards a debtor that is experiencing or about to experience difficulties in meeting its financial commitments, should not preclude the triggering of the credit event.

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