Reset to Today

To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

Content Options:

Add to favourites

View Options:

More Resources:

External link Handbook Publications

Alternative versions

  1. Point in time
    2019-08-02

IFPRU 4.13 Settlement risk

IFPRU 4.13.1 R RP

Where a system wide failure of a settlement system, a clearing system or a CCP occurs, the own funds requirements calculated in articles 378 (Settlement/delivery risk) and 379 (Free deliveries) of the EU CRR are waived until the situation is rectified. In this case, the failure of a counterparty to settle a trade shall not be deemed a default for purposes of credit risk.

[Note: article 380 of the EU CRR]