EBU Single Rulebook Q&A 4 October 2023 2023_6903 Transaction with underlying assets: “distinct client” vs. “unknown client”

In the case of a transaction with underlying assets where an institution cannot identify the obligors and cannot ensure, by means of the transaction’s mandate, that the underlying exposures of the transaction are not connected with any other exposures in its portfolio, which is the correct procedure for the assignment of the exposures taking into account that a subset of underlying asset exceeds