Glossary

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Term Definition Legal instruments

credit risk

31/12/2020

The changes to this defined term are effective from 23:00 on 31/12/2020.

means the risk of loss, or of adverse change, in the financial situation, resulting from fluctuations in the credit standing of issuers of securities, counterparties and any debtors to which a UK Solvency II firm is exposed, in the form of counterparty default risk, or spread risk, or market risk concentrations.

Additional Notes

[Note: Art. 13(32) of the Solvency II Directive]

Instruments