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<small>[[Template:ISDA English Law Credit Support Annex 2016 11(c)(v)|view template]]</small><br> | <small>[[Template:ISDA English Law Credit Support Annex 2016 11(c)(v)|view template]]</small><br> | ||
}} | }} | ||
An observation one might make here is that if you have a cash-only {{csa}} and as long as you only accept the Major Currencies, then this entire Rube Goldberg provision is unnecessary: The Valuation Percentage will (most likely) be 100%, the FX Haircut Percentage will be zero, so the definition of value that these definitions feed into amounts to the following: | |||
:The amount (call it ''n'') ''multiplied by'' the sum of 100% ''minus'' zero%, ''or'' | |||
:''n'' * (100% - 0%), ''or'' | |||
:''n'' * 100%, ''or'' | |||
:''n''. | |||
Sigh. |