Template:Nutshell 1995 CSA 4(a): Difference between revisions
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**'''Disputes as to {{csaprov|Exposure}}''': the {{csaprov|Valuation Agent}} will recalculate any disputed {{csaprov|Exposure}} as of the {{csaprov|Recalculation Date}} by averaging the mid-market quotations from those {{isdaprov|Reference Market-makers}} who will provide one (if none will, the {{csaprov|Valuation Agent}}’s original calculations will stand); and calculating the outstanding {{csaprov|Credit Support Balance}} as per Paragraph {{csaprov|11(e)(ii)}}; | **'''Disputes as to {{csaprov|Exposure}}''': the {{csaprov|Valuation Agent}} will recalculate any disputed {{csaprov|Exposure}} as of the {{csaprov|Recalculation Date}} by averaging the mid-market quotations from those {{isdaprov|Reference Market-makers}} who will provide one (if none will, the {{csaprov|Valuation Agent}}’s original calculations will stand); and calculating the outstanding {{csaprov|Credit Support Balance}} as per Paragraph {{csaprov|11(e)(ii)}}; | ||
**'''Disputes as to {{csaprov|Credit Support}} {{csaprov|Value}}''': recalculating the {{csaprov|Value}} as of the date of transfer. <br /> | **'''Disputes as to {{csaprov|Credit Support}} {{csaprov|Value}}''': recalculating the {{csaprov|Value}} as of the date of transfer. <br /> | ||
The {{csaprov|Valuation Agent}} will notify each party by the {{csaprov|Notification Time}} on the {{csaprov|Local Business Day}} following the {{csaprov|Resolution Time}}. Then the appropriate transfer has to be made. | The {{csaprov|Valuation Agent}} will notify each party by the {{csaprov|Notification Time}} on the {{csaprov|Local Business Day}} following the {{csaprov|Resolution Time}}. Then the appropriate transfer has to be made. <br> | ||
Latest revision as of 10:14, 3 August 2018
4(a) Disputed Calculations or Valuations. If a Disputing Party disputes any collateral call (the Value of either the Exposure or the Credit Support being transferred):
- it must give notice by close of business on the following Local Business Day:
- it must transfer any undisputed amount by close of business on the following Settlement Day;
- the parties will try resolve the dispute. If by the Resolution Time they haven’t:
- Disputes as to Exposure: the Valuation Agent will recalculate any disputed Exposure as of the Recalculation Date by averaging the mid-market quotations from those Reference Market-makers who will provide one (if none will, the Valuation Agent’s original calculations will stand); and calculating the outstanding Credit Support Balance as per Paragraph 11(e)(ii);
- Disputes as to Credit Support Value: recalculating the Value as of the date of transfer.
The Valuation Agent will notify each party by the Notification Time on the Local Business Day following the Resolution Time. Then the appropriate transfer has to be made.