FpML-CD Muni CDS - 'Moral Obligation Liability'

["Orme, Jamie" <Jamie.Orme@xxxxxx>]

CDWG,

We would like to add 'Moral Obligation Liability' to the creditDefaultSwap schema to fully support Muni CDS.

I believe that this is defined in the ISDA additional provisions (attached), as follows:

 

'“Moral Obligation Liability” means any liability of the Reference Entity that is contingent upon an appropriation being made by the governing body or other official of the Reference Entity'

 

I have changed the schema (also attached) in all relevant places as per the below:

 

 

 

Could we get together to discuss whether or not this modification to the schema can be formally adopted?

 

Many Thanks

 

Jamie

 

 

Attachment: additionalprovisions.pdf
Description: additionalprovisions.pdf

Attachment: fpml-cd-4-4 moral oblig.xsd
Description: fpml-cd-4-4 moral oblig.xsd