| This is done independently of the existing obligor, not on the obligor's instruction or direction, and possibly, without the obligor's knowledge. |
| The degree of correlation between the value of the assets relied upon for protection and the credit quality of the obligor shall not be undue. |
| As part of our risk-rating methodology, the risk assessment includes a review of external ratings of the obligor. |
| With netting, gross obligations are discharged by the transfer of the net amount of value due from each obligor. |
| An institution shall reflect a hedge only to the extent that it can be maintained even as the obligor approaches a credit or other event. |
| I feel it is my duty to advise that the obligor in these securities is not rning the interest on them. |
