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Frequently Asked Question

Originally published by -
Last modified by Nick Brooks - 25/01/2012 16:25:03
Tags: bsc , credit
When does a Credit Default occur?
The Credit Default processes are triggered when a Party's Credit Cover Percentage (CCP) exceeds a number of thresholds

  • The Level 1 Credit Default process is triggered when the CCP exceeds 80%
  • The Level 2 Credit Default process is triggered when the CCP exceeds 90%
Further information about Credit Default can be found in Sections 3.2 and 3.3 of Section M of the BSC.
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