(Difference between pages)
imported>Doug Williamson |
imported>Doug Williamson |
| Line 1: |
Line 1: |
| 1.
| | A centralised facility for payments within a group. |
|
| |
|
| A formal legal agreement to take, or not to take, certain actions.
| | The payments factory undertakes execution, administration and reporting for payments. |
|
| |
|
|
| |
| 2.
| |
|
| |
| In loan documentation, a promise given by the borrower to take, or not to take, specified actions relevant to the borrower's creditworthiness.<ref>http://www.treasurers.org/node/8842</ref> For example, a ''financial covenant'' to maintain a minimum ratio of net worth to debt.
| |
|
| |
|
| |
| 3.
| |
|
| |
| In relation to pension funds, the credit strength of the sponsoring employer and its commitment to the pension fund.
| |
|
| |
|
|
| |
|
| == See also == | | == See also == |
| * [[Accounting exposure]] | | * [[Payment]] |
| * [[Asset cover]] | | * [[Group]] |
| * [[Breach of covenant]] | | * [[ICM]] |
| * [[Compliance]]
| |
| * [[Contingent covenant]]
| |
| * [[Covenant-lite]]
| |
| * [[Credit risk]]
| |
| * [[Event of default]]
| |
| * [[Financial covenant]]
| |
| * [[Generally accepted accounting principles]]
| |
| * [[Incurrence covenant]]
| |
| * [[Interest cover]]
| |
| * [[Loan agreement]]
| |
| * [[Maintenance covenant]]
| |
| * [[MCT]] | | * [[MCT]] |
| * [[Net worth]]
| |
| * [[Non-financial covenant]]
| |
| * [[Restrictive covenant]]
| |
| * [[Waiver]]
| |
|
| |
|
| |
| ==References==
| |
| <references/> Treasury Essentials: Covenants, The Treasurer, March 2013
| |
|
| |
| [[Category:Long_term_funding]]
| |
| [[Category:Manage_risks]]
| |
| [[Category:Risk_frameworks]]
| |
| [[Category:Treasury_operations_infrastructure]]
| |
Revision as of 16:23, 22 November 2014
A centralised facility for payments within a group.
The payments factory undertakes execution, administration and reporting for payments.
See also
