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| {{fullanat2|csa|Valuation Date|2016|Valuation Date|1995}}{{fullanat2|csa|11(c)(ii)|2016|11(d)(ii)|2016}} | | {{Nman|csa|1995|Valuation Date and Time}} |
| ===2016 Variations===
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| Note the introduction of a {{csaprov|Valuation Date Location}}. Each party gets to choose one, being its own hometown. If you’re off dancing the maypole, or whatever collective cultural tradition you follow in your part of the world (In Czech Republic, at Easter the boys chase the girls round the kitchen table with riding crops I’m told. It’s hilarious), then no fear you’ll get called on to make a collateral transfer.
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| ===The 1995 CSA transfer mechanics===
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| You might expect {{csaprov|Valuation Date}} to be stipulated in Paragraph {{csaprov|11}} as "any '''{{csaprov|Local Business Day}}'''".
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| {{CSA Transfer Description|csa}}
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Revision as of 09:13, 17 June 2024
ISDA 1995 English Law Credit Support Annex
A Jolly Contrarian owner’s manual™
Valuation Date and Time in a Nutshell™
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Original text
“Valuation Date” means each date specified in or otherwise determined pursuant to Paragraph 11(c)(ii).
“Valuation Time” has the meaning specified in Paragraph 11(c)(iii).
11(c) Valuation and Timing.
- 11(c)(i) “Valuation Agent” means, for purposes of Paragraphs 2 and 4, the party making the demand under Paragraph 2, and, for purposes of Paragraph 5(c), the Transferee, as applicable, unless otherwise specified here: [SPECIFY]
- 11(c)(ii) “Valuation Date” means: [SPECIFY]
- 11(c)(iii) “Valuation Time” means:
- [ ] the close of business in the place of location of the Valuation Agent on the Valuation Date or date of calculation, as applicable;
- [ ] the close of business on the Local Business Day immediately preceding the Valuation Date or date of calculation, as applicable;
- provided that the calculations of Value and Exposure will, as far as practicable, be made as of approximately the same time on the same date.
- 11(c)(iv) “Notification Time” means 1:00 p.m., London time, on a Local Business Day, unless otherwise specified here: [SPECIFY]
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Resources and Navigation
Index: Click ᐅ to expand:
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Comparisons
Template:Csa Valuation Date and Time comp
Basics
Template:Csa Valuation Date and Time summ
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- JC’s “nutshell” summary of the clause
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- Four-dimensional chess associated with the Valuation and settlement process
- Transfer timings — a run-down
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See also
References