Transferee - VM CSA Provision: Difference between revisions

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{{csaanat|Transferee|2016}}The one ''receiving'' {{vmcsaprov|Eligible Credit Support}} on any {{vmcsaprov|Valuation Date}}, basically ... which most people could probably deduce from the word “transferee”. But for you nervous types — for the next twenty minutes, indulge yourselves.
{{Manual|MCAE|2016|Transferee|Paragraph|Transferee|short}}

Latest revision as of 13:05, 6 December 2021

2016 ISDA Credit Support Annex (VM) (English law)
A Jolly Contrarian owner’s manual™

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Paragraph Transferee in a Nutshell

Use at your own risk, campers!
Transferee” means, on a Valuation Date, the party whose Exposure is positive and, who owes a Credit Support Balance (VM) to the other party.

Full text of Paragraph Transferee

Transferee” means, in relation to each Valuation Date, the party in respect of which Exposure is a positive number and, in relation to a Credit Support Balance (VM), the party which, subject to this Annex, owes such Credit Support Balance (VM) or, as the case may be, the Value of such Credit Support Balance (VM) to the other party.


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Summary

The one receiving Eligible Credit Support on any Valuation Date, basically ... which most people with a reading age above seven would deduce from the word “transferee”. But for nervous types, and we know there are one or two, among the legions of negotiators in the world — for the next twenty minutes, indulge yourselves. But at least that twenty minutes would yield something. The ISDA definition of Transferor, by contrast, is an utter bust.

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See also

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References