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Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Recognised Jurisdictions and Funds
Declaration Notices
Financial Markets Tribunal
Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER34/12-19]
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases

Whole SectionText only Print Print Manager Link

(1 version)
Dec 9 2012 onwards

PIB 4.13.11

Whole Section PDF

The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

(1) An Authorised FirmG may recognise the effects of Credit RiskG mitigation of a Credit DerivativeG only if it is provided by any of the following entities:
(a) central government or Central BankG ;
(b) MDB referred to in Rules PIB 4.12.7 to PIB 4.12.9;
(c) International Organisations referred to in PIB Rule 4.12.9;
(d) PSE;
(e) banks and securities firms which qualify for inclusion in bank asset class; or
(f) any other entity that has a Credit Quality GradeG "3" or better.
(2) An Authorised FirmG may recognise the effects of Credit RiskG mitigation of only the following types of Credit DerivativesG :
(a) credit default swaps;
(b) total return swaps;
(c) credit linked notesG which are cash funded; and
(d) instruments that are composed of, or are similar in economic substance, to one or more of the Credit DerivativesG in (a) to (c).
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]