element <defaultRequirement> (local)
Namespace:
http://www.fpml.org/FpML-5/confirmation
Type:
Money
Content:
complex, 1 attribute, 2 elements
Defined:
locally within CreditEvents complexType in fpml-option-shared-5-13.xsd; see XML source
Component 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 (in creditCurve),
creditEvents (in protectionTerms),
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 FlexDoc/XML 1.12.2 using FlexDoc/XML XSDDoc 2.9.1 template set. All XSD diagrams generated by FlexDoc/XML DiagramKit.