Documentation for Financial products Markup Language (FpML®)
Definition Type: Element
Name: defaultRequirement
Namespace: http://www.fpml.org/FpML-5/pretrade
Type: nsC:Money
Containing Schema: fpml-option-shared-5-10.xsd
MinOccurs 0
MaxOccurs (1)
Abstract
Documentation:
In relation to certain credit events, serves as a threshold for Obligation Acceleration, Obligation Default, Repudiation/Moratorium and Restructuring. Market standard is USD 10,000,000 (JPY 1,000,000,000 for all Japanese Yen trades). This is applied on an aggregate or total basis across all Obligations of the Reference Entity. Used to prevent technical/operational errors from triggering credit events. ISDA 2003 Term: Default Requirement.
Collapse XSD Schema Diagram:
Drilldown into amount in schema fpml-shared-5-10_xsd2 Drilldown into currency in schema fpml-shared-5-10_xsd2 Drilldown into id in schema fpml-shared-5-10_xsd2 Drilldown into MoneyBase in schema fpml-shared-5-10_xsd2 Drilldown into Money in schema fpml-shared-5-10_xsd2XSD Diagram of defaultRequirement in schema fpml-option-shared-5-10_xsd1 (Financial products Markup Language (FpML®))
Collapse XSD Schema Code: 
<xsd:element name="defaultRequirement" type="Money" minOccurs="0">
    <xsd:annotation>
        <xsd:documentation xml:lang="en">In relation to certain credit events, serves as a threshold for Obligation Acceleration, Obligation Default, Repudiation/Moratorium and Restructuring. Market standard is USD 10,000,000 (JPY 1,000,000,000 for all Japanese Yen trades). This is applied on an aggregate or total basis across all Obligations of the Reference Entity. Used to prevent technical/operational errors from triggering credit events. ISDA 2003 Term: Default Requirement.</xsd:documentation>
    </xsd:annotation>
</xsd:element>
Collapse Child Elements:
Name Type Min Occurs Max Occurs
currency nsC:currency (1) (1)
amount nsC:amount 0 (1)
Collapse Child Attributes:
Name Type Default Value Use
id nsC:id (Optional)
Collapse Derivation Tree:
Documentation for Financial products Markup Language (FpML®)

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