Related provisions for MIPRU 4.2C.13

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

1For unfunded credit protection:(1) to be eligible for recognition:(a) the party giving the undertaking must be sufficiently reliable; and(b) the protection agreement must be legally effective and enforceable in the relevant jurisdictions, to provide appropriate certainty as to the credit protection achieved, having regard to the approach used to calculate risk weighted exposure amounts and to the degree of recognition allowed; and(2) protection must be provided by central governments
Where a customer under a regulated credit agreement fails to make an occasional payment when it becomes due, a firm should, in accordance with Principle 6, allow for such unmade payments to be made within the original term of the agreement unless:(1) the firm reasonably believes that it is appropriate to allow a longer period for repayment and has no reason to believe that doing so will increase the total amount payable to be unsustainable or otherwise cause a customer to be in