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Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

counterparty credit risk

      1. 156
        1. (1) (230for the purposes of BIPRU) the risk that the counterparty to a transaction could default before the final settlement of the transaction's cash flows.
        1. (2) (other than in (1)) has the meaning as used in the UK CRR230.
        [Note: Part 1 of Annex III of the Banking Consolidation Directive (Definitions]230