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RC-T Report Default Based On Issue (Doc ID 2769702.1)

Last updated on APRIL 22, 2021

Applies to:

Oracle Financial Services - Regulatory Reporting for US Federal Reserve - Lombard Risk Integration Pack - Version 8.0.9 and later
Information in this document applies to any platform.


RC-T: Line M 2.a.1 Issues reported in Memorandum item 2.a that are in default.
Based on the instructions above, “fails to make a required payment of principal” is one of the criteria for “Substantial Default” and that individual securities (CUSIP) should be reported in 2a(1). But that doesn’t translate to all securities under that issuer being defaulted. Unless the issuer “file for bankruptcy or declared bankrupt or insolvent”, then all the securities under that issuer will be reported in 2a(1).

As per customer requirement, the MDRM should preference of default the issue and then review issuer?


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