For the purposes of measuring exposures, the counterparty will generally be the person from whom the concerned funds are receivable (in the case of fees and commissions etc.), the obligor (customer) in the case of credit facilities; 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 Shari’a compliant hedging instrument contract.
Added: June 2022