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Template:Csa Other Posted Support summ: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{{{{1}}}|Other Posted Support}} is to {{{{{1}}}|Other Eligible Support}} as {{{{{1}}}|Posted Collateral}} is to {{{{{1}}}|Eligible Collateral}}: Other Eligible Support provides the universe of allowed forms of non Collateral that can be provided as {{{{{1}}}|Credit Support}} under the CSA; {{{{{1}}}|Other Posted Support}} means the heavenly bodies in that universe that have actually been preferred as {{{{{1}}}|Credit Support}}. What is this alternative universe, then,...") |
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Since it is a direct commitment from the bank to the beneficiary it is not, strictly speaking, any kind of security interest granted by the debtor (any more than a [[Negotiable instrument|cheque]] would be), hence the the labels “Secured Party” and “Pledgor” in this narrow circumstance are not anatomically accurate, and references to the law and lore of taking security are irrelevant (and in the {{sicsa}}s are disapplied: See Section {{{{{1}}}|1(b)}}. | Since it is a direct commitment from the bank to the beneficiary it is not, strictly speaking, any kind of security interest granted by the debtor (any more than a [[Negotiable instrument|cheque]] would be), hence the the labels “Secured Party” and “Pledgor” in this narrow circumstance are not anatomically accurate, and references to the law and lore of taking security are irrelevant (and in the {{sicsa}}s are disapplied: See Section {{{{{1}}}|1(b)}}. | ||
====Probably not guarantees==== | |||
Possibly it could include guarantees, too, though these tend to live their own separate lives as Credit Support Documents, and are not “delivered” under a CSA. | Possibly it could include guarantees, too, though these tend to live their own separate lives as Credit Support Documents, and are not “delivered” under a CSA. | ||