{"id":11335,"date":"2012-02-20T14:18:37","date_gmt":"2012-02-20T14:18:37","guid":{"rendered":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/?post_type=glossary&#038;p=11335"},"modified":"2012-02-20T14:18:37","modified_gmt":"2012-02-20T14:18:37","slug":"level-2-credit-default","status":"publish","type":"glossary","link":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/glossary\/level-2-credit-default\/","title":{"rendered":"Level 2 Credit Default"},"content":{"rendered":"","protected":false},"template":"","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","inline_featured_image":false},"tags":[],"class_list":["post-11335","glossary","type-glossary","status-publish","hentry"],"acf":[],"semantic_search":{"post_id":11335,"title":"Level 2 Credit Default","link":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/glossary\/level-2-credit-default\/","categories":[],"tags":[],"content":"\n\n\n<div class=\"panel-content\">\n\t<p>If, in relation to any Settlement Period (period J), a Trading Party&#x2019;s Credit Cover Percentage as determined by the ECVAA becomes greater than 90%, irrespective of whether or not Settlement Period J falls in a Query Period or a Level 1 Credit Default Cure Period, then subject to an authorisation notice being in force in relation to that Trading Party (or if later, with effect from such notice being given):(a) the Trading Party shall be in &#x201C;Level 2 Credit Default&#x201D;; (b) the ECVAA shall, as soon as reasonably practicable after Gate Closure for Settlement Period J, notify the Trading Party that it is in Level 2 Credit Default and post a Level 2 Credit Default statement on the BMRS or the BSC Website in relation to the Trading Party; has the meaning given to that term in Section M3.3.1;<\/p>\n\n\t<\/div>","s3_url":""},"_links":{"self":[{"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/glossary\/11335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/glossary"}],"about":[{"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/types\/glossary"}],"version-history":[{"count":0,"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/glossary\/11335\/revisions"}],"wp:attachment":[{"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/media?parent=11335"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elexon-beta.elexonhostings.co.uk\/bsc\/wp-json\/wp\/v2\/tags?post=11335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}