Requirements to deliver excess Collateral - GMSLA Provision: Difference between revisions
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Latest revision as of 18:57, 30 December 2020
2010 Global Master Securities Lending Agreement
Clause 5.6 in a Nutshell™ Use at your own risk, campers!
Full text of Clause 5.6
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Summary
Paragraph 5.6 is the clincher in the “aggregate portfolio collateralisation” netting analysis started in paragraph 5.4. It means you don’t have to gross up collateral flows across portfolios of longs and shorts.
Read together with Sections 5.6 and 5.7 (and also see GMSLA Netting).