Two or more Counterparties between whom there is no relationship of control as described in Rules
[PIB A4.11.5] and [PIB A4.11.6] will be regarded as constituting a single risk if they are so interconnected that, if one of them were to experience financial problems, in particular funding or repayment difficulties, the other or all of the others would also be likely to encounter funding or repayment difficulties.
Derived from RM111/2012
(Made 15th October 2012). [VER20/12-12]