element <defaultRequirement> (local)

Namespace: | http://www.fpml.org/FpML-5/confirmation
Type: | Money
Content: | complex, 1 attribute, 2 elements
Defined: | locally witnin CreditEvents complexType in fpml-option-shared-5-3.xsd; see XML source

Content Model Diagram

XML Representation Summary
<defaultRequirement
id | = | xsd:ID
| >
Content: | currency, amount
</defaultRequirement>

Content model elements (2):

  amount (defined in Money complexType), | currency (defined in MoneyBase complexType)

Included in content model of elements (3):

  creditEvents (defined in ProtectionTerms complexType),
  creditEvents (in creditCurve),
  creditEvents (in trigger defined in TriggerEvent complexType)

Annotation
In relation to certain credit events, serves as a threshold for Obligation Acceleration, Obligation Default, Repudiation/Moratorium and Restructuring. Market standard is USD 10,000,000 (JPY 1,000,000,000 for all Japanese Yen trades). This is applied on an aggregate or total basis across all Obligations of the Reference Entity. Used to prevent technical/operational errors from triggering credit events. ISDA 2003 Term: Default Requirement.
XML Source (w/o annotations (1); see within schema source)

<xsd:element minOccurs="0" name="defaultRequirement" type="Money"/>

XML schema documentation generated with DocFlex/XML 1.8.6b2 using DocFlex/XML XSDDoc 2.5.1 template set. All content model diagrams generated by Altova XMLSpy via DocFlex/XML XMLSpy Integration.