Related provisions for SUP 16.1.1

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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004 (From field only).

A default must be considered to have occurred with regard to a particular obligor when either or both of the two following events has taken place:(1) the firm considers that the obligor is unlikely to pay its credit obligations to the firm, the parent undertaking or any of its subsidiary undertakings in full, without recourse by the firm to actions such as realising security (if held); and(2) the obligor is past due more than 90 days on any material credit obligation to the firm,