unfunded contribution to a default fund
Defined in Article 300, Capital Requirements Regulation (CRR)
Definitions over time (1)
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29/06/2021 – today applies on 11/11/2026 Article 300, Capital Requirements Regulation (CRR) Scope: Part III Title II Chapter 6 Section 9
For the purposes of this Section and of Part Seven, the following definitions apply:
‘unfunded contribution to a default fund’ means a contribution that an institution that acts as a clearing member has contractually committed to provide to a CCP after the CCP has depleted its default fund to cover the losses it incurred following the default of one or more of its clearing members;