default

Defined in 1 EU act of the Finance group: CSDR First

CSDR, Article 2(26) First adopted 2014-07-23, amended 2026-01-17

Own text citing Settlement Finality Directive, Article 2(j).

in relation to a participant, a situation where insolvency proceedings, as defined in Article 2, point (j), of Directive 98/26/EC, are opened against a participant or an event defined in the CSD’s internal rules as constituting a default

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