CTHRepealedLegislation
Financial Sector (Collection of Data) (reporting standard) determination No. 6 of 2009 - LRS 210.0 - Derivatives, Commitments and Off-Balance Sheet Items
5.1. Standby facilities5.1. Standby facilities
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5.1. Standby facilities
These facilities are approved and committed. These generally require written notice by the life company to trigger draw down (access to the funds).
5.1.1. Facilities with same day draw down
Include:
- those standby facilities that can be drawn down (funds accessed) on the same day that notice is given by the life company of its intention to draw down on the standby facility.
5.1.2. Facilities with 2 - 5 day draw down
Include:
- those standby facilities that can be drawn down (funds accessed) within two-five days after notice is given by the life company of its intention to draw down on the standby facility (i.e. a two-five day waiting period).
5.1.3. Facilities with greater than 5 days draw down