Obligation Credit Event
Definition
Obligation Credit Event. An event which relates specifically to an individual security issued by the Reference Entity (the Reference Obligation).
Issues and Challenges
From inspection of the ISDA definitions it is clear that some Credit Events relate to a business entity (legal entity since it is incurring debts) while others relate specifically to an individual instrument. The distinction may be of minor interest in practice since most entities would presumably only have one debt instrument in issue. This term added to pick up the explicit relationship to the Reference Obligation for these Credit Event types. The others are deemed to relate to the Reference Entity directly and to the Reference Obligation by extension.
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 + |
