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  • CM-5.4 CM-5.4 Identity of counterparty

    • CM-5.4.1

      For the purposes of measuring exposures, the counterparty will generally be the borrower (customer), the person guaranteed, the issuer of a security in the case of a security held, or the party with whom a contract was made in the case of a derivative 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.