automatic acceleration
Defined in Article 3, Directive (EU) 2019/2162
Definitions over time (1)
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For the purposes of this Directive, the following definitions apply:
‘automatic acceleration’ means a situation in which a covered bond automatically becomes immediately due and payable upon the insolvency or resolution of the issuer and in respect of which the covered bond investors have an enforceable claim for repayment at a time earlier than the original maturity date;
Earlier definition records in this act (1)
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- Article 3(9) Historical · definitions end 09/01/2024