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Issue 382 | CMP228

Issue 382 | CMP228

Josephine Lord Josephine Lord Consultant

New CUSC modification proposalCMP228 Definition of “Qualified Bank” 20 March 2014 This proposal was raised by RWE npower on 24 February and seeks to extend the definition of “Qualified Bank” in the CUSC to include companies capable of providing trade-related credit insurance. This would increase the number of possible providers of security available to users for CUSC purposes where users do not have an approved credit rating. The proposer argues that the number of financial institutions with an adequate credit rating to provide security on behalf of users under the CUSC has recently reduced and that allowing trade credit ...

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