Hard Credit Event
Definition
Hard Credit Event. Hard default. This is defined by the event not being repairable.
Soft and Hard defaults are defined by whether or not the event is repairable. Typically defined by the crossing of some threshold in some measurement. If you don't repair, this becomes a "failure to repair" credit event. The "failure to repair" triggers either a hard default or there is a whole lot of possible terms about the extension of the grace period.
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
| IsDefinedBy URI of an entity that is defined via an imported vocabulary. | https://spec.edmcouncil.org/fibo/ontology/FBC/DebtAndEquities/CreditEvents/index-en.html + |
