Template:Csa Valuation summ

“Base Currency Equivalent of bid price”

It is not unknown to amend limb (ii) to include "the {{{{{1}}}|Base Currency Equivalent}} of the bid price obtained by the {{{{{1}}}|Valuation Agent}} multiplied by the nominal amount of such security".

This is presumably to cater for the pedantic argument — just the sort of argument that a diligent legal eagle with nothing better to do loves to run — that a “bid price” could be a percentage figure of a nominal amount, instead of a cash value, and this might upset the calculation. I mean, really.

But even if a “price” isn’t necessarily a cash amount — to be sure, trading folk do talk that way sometimes, even if most sensible working folk don’t — the idea of the “{{{{{1}}}|Base Currency Equivalent}}” of that price certainly turns it into one. You can’t exactly have “USD 86%”, can you? And if the {{{{{1}}}|Eligible Credit Support}} includes collateral other than cash or debt instruments (e.g., equities), reference to a nominal amount multiplier is potentially confusing.