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

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unfunded credit protection

  1. (1) (in BIPRU and in accordance with Article 4(32) of the Banking Consolidation Directive (Definitions)) a technique of credit risk mitigation where the reduction of the credit risk on the exposure of an undertaking derives from the undertaking of a third party to pay an amount in the event of the default of the borrower or on the occurrence of other specified events. 53

  1. (2) (in IFPRU) has the meaning in article 4(1)(59) of the EU CRR. 53