payment leg
as defined in CRR, Article 272, point (26) (Definitions)
the payment agreed in an OTC derivative transaction with a linear risk profile which stipulates the exchange of a financial instrument for a payment. In the case of transactions that stipulate the exchange of payment against payment, those two payment legs shall consist of the contractually agreed gross payments, including the notional amount of the transaction.
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Also defined in
- Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and… 32006L0048, bIII.p2
When an OTC derivative transaction with a linear risk profile stipulates the exchange of a financial instrument for a payment, the payment Part