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RBA Glossary definition for CAC

CAC – Collective Action Clause. A clause in bond contracts that includes provisions allowing a qualified majority of lenders to amend key financial terms of the debt contract and bind a minority to accept these new terms.

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Independent Governance Review

11 Feb 2013 Media Release PDF 740KB
Report for the Reserve Bank of Australia Special Committee
https://www.rba.gov.au/media-releases/2013/pdf/mr-13-01-igr-securency-npa.pdf