default
- (1) (in relation to the IRB approach and for the purposes of BIPRU) has the meaning in BIPRU 4.3 (The IRB approach: Provisions common to different exposure classes).94
- (2) (in MIPRU) for any credit obligation a borrower has with a firm, an event where:94
- (3) (in relation to an operator of an electronic system in relation to lending) an event where:125
- (a) in respect of a P2P agreement that is not secured on property, the borrower is past the contractual payment due date by more than 90 days; or125
- (b) in respect of a P2P agreement that is secured on property, the borrower is past the contractual payment due date by more than 180 days.125