Title transfer: Difference between revisions
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Despite its name, the {{gmsla}} transaction is one of title transfer, as can be better explained in the articles on {{gmslaprov|market terminology}} and the term "{{gmslaprov|equivalent}}" as it is used in the {{tag|GMSLA}}. | Despite its name, the {{gmsla}} transaction is one of title transfer, as can be better explained in the articles on {{gmslaprov|market terminology}} and the term "{{gmslaprov|equivalent}}" as it is used in the {{tag|GMSLA}}. | ||
===Full title guarantee]]=== | ===[[Full title guarantee]]=== | ||
Note also the concept of [[full title guarantee]] and [[limited title guarantee]], as contemplated by the [[Law of Property (Miscellaneous Provisions) Act 1994]] | Note also the concept of [[full title guarantee]] and [[limited title guarantee]], as contemplated by the [[Law of Property (Miscellaneous Provisions) Act 1994]] | ||
Revision as of 14:52, 6 February 2015
1995 CSA
The title transfer 1994 NY CSA is carefully designed to create a true sale (hence references to redelivery of “Equivalent Credit Support” and not just return of posted assets). Modifications to the CSA (even by side letter or other agreement) which allow any counterparty to retain control over the Credit Support Balance held by the other party may prejudice the true sale analysis.
GMSLA
Despite its name, the 2010 GMSLA transaction is one of title transfer, as can be better explained in the articles on market terminology and the term "equivalent" as it is used in the GMSLA.
Full title guarantee
Note also the concept of full title guarantee and limited title guarantee, as contemplated by the Law of Property (Miscellaneous Provisions) Act 1994