CM-5.4 CM-5.4 Identity of counterparty
CM-5.4.1
For the purposes of measuring
exposures , thecounterparty will generally be the borrower (customer), the person guaranteed, the issuer of asecurity in the case of asecurity held, or the party with whom a contract was made in the case of aderivative contract.CM-5.4.2
Where a third party has provided an explicit unconditional irrevocable guarantee, and subject to the guaranteed bank's policy statement not stating otherwise, the guaranteed bank may be permitted to report the
exposure as being to the third party guarantor.