# Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast) (Text with EEA relevance) (repealed), Division 83: The value of unfunded credit protection (G) shall be the amount that the protection provider has undertaken to pay in the event of the default or non-payment of the borrower or on the occurrence of other specified credit events. In the case of credit derivatives which do not include as a credit event restructuring of the underlying obligation involving forgiveness or postponement of principal, interest or fees that result in a credit loss event (e.g. value adjustment, the making of a value adjustment or other similar debit to the profit and loss account),

Extent: E+W+S+N.I.
Status: repealed

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Source: https://www.legislation.gov.uk/eudr/2006/48/annex/VIII/part/3/division/n4/division/2.1/division/83 (the official version)
Page: https://openlegislation.uk/eu-directive-2006-48/annex-VIII/part-3/division-n4/division-2.1/division-83
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.