PET - Plain English Taxonomy

Label: Financial Risk Credit Direct Credit Substitutes Standby Letters Of Credit Amount
TREF ID: DE7925
Data Type: xbrli:monetaryItemType
Period Type: instant
Balance Type: debit
Business Description & Guidance:
This is the value, as at the relevant date, of standby letters of credit on issue that are serving as financial guarantees for loans, securities and any other financial liabilities. Report only standby letters of credit that constitute direct credit substitutes.     A direct credit substitute is any irrevocable off-balance sheet obligation that carries the same credit risk as a direct extension of credit, such as an undertaking to make a payment to a third party in the event that a counterparty fails to meet a financial obligation, or an undertaking to a counterparty to acquire a potential claim on another party in the event of default by that party (i.e. the risk of loss depends on the creditworthiness of the counterparty or the party on that a potential claim is acquired). 

Usage
Form Labels
Label:
Direct Credit Substitutes - Standby Letters of Credit
Label:
Direct Credit Substitutes - Standby Letters of Credit
Label:
Standby letters of credit
Label:
Direct Credit Substitutes - Letters of Credit
Label:
Standby letters of credit