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unfunded credit protection

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unfunded credit protection

(1) [deleted]93 81 53

(2) [deleted]93 81 53
(3) (in MIPRU) a way of mitigating credit risk where the reduction of credit risk on the exposure of an undertaking (the borrower) derives from the enforceable obligation 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.59

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