Originally Posted by
Romulus
My understanding is because SCFHA are equity they are not covered by GG.
Note the SCF030 that mature on 8 Oct 2010 trading @ 7.6% are covered and if they are covered then any failure triggered under the GG before 8 Oct 2010 will cover all eligble debt (both debentures and bonds on any duration). Logic also would imply this is so because if SCF failed say in June 2010 then SCF030 bonds wouldn't need to wait until 8 Oct 2010 before GG kicks in, hence all bonds kick in under GG along with all debentures of any duration (Before and after 8 Oct 2010) also kick in under the GG cover.
Does that make sense!!