Template:Nutshell 2016 CSA 2(b): Difference between revisions

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Created page with "{{vmcsaprov|2(b)}} '''{{vmcsaprov|Return Amount (VM)}}'''. When the {{vmcsaprov|Transferor}} demands a {{vmcsaprov|Return Amount (VM)}} for a {{vmcsaprov|Valuation Date}} at l..."
 
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{{vmcsaprov|2(b)}} '''{{vmcsaprov|Return Amount (VM)}}'''. When the {{vmcsaprov|Transferor}} demands a {{vmcsaprov|Return Amount (VM)}} for a {{vmcsaprov|Valuation Date}} at least equal to the {{vmcsaprov|Transferee}}’s {{vmcsaprov|Minimum Transfer Amount}}, the {{vmcsaprov|Transferee}} must transfer to the {{vmcsaprov|Transferee}} the {{vmcsaprov|Equivalent Credit Support (VM)}} it specified with a {{vmcsaprov|Value}} of the {{vmcsaprov|Return Amount (VM)}} (rounded as per Paragraph {{vmcsaprov|11(c)(vi)(B)}}) and the {{vmcsaprov|Credit Support Balance (VM)}} will be proportionately reduced.  
{{vmcsaprov|2(b)}} '''{{vmcsaprov|Return Amount}}'''. If the {{vmcsaprov|Transferor}} demands a {{vmcsaprov|Return Amount}} at least equalling the {{vmcsaprov|Transferee}}’s {{vmcsaprov|Minimum Transfer Amount}} on a {{vmcsaprov|Valuation Date}}, the {{vmcsaprov|Transferee}} must transfer the specified {{vmcsaprov|Equivalent Credit Support (VM)}} with a {{vmcsaprov|Value}} of the {{vmcsaprov|Return Amount (VM)}} (rounded under Paragraph {{vmcsaprov|11(c)(vi)(B)}}) to the {{vmcsaprov|Transferee}} and the {{vmcsaprov|Credit Support Balance (VM)}} will be proportionately reduced. The “'''{{vmcsaprov|Return Amount (VM)}}'''” is the amount by which the {{vmcsaprov|Value}} of the {{vmcsaprov|Transferor}}’s {{vmcsaprov|Credit Support Balance (VM)}} (adjusted for pending but unsettled transfers) exceeds the {{vmcsaprov|Transferee}}’s {{vmcsaprov|Exposure}}. <br>
 
A {{vmcsaprov|Transferee}}’s “{{vmcsaprov|Return Amount (VM)}}” on any {{vmcsaprov|Valuation Date}} will be the amount by which: <br>
:(i) the {{vmcsaprov|Value}} of the {{vmcsaprov|Transferor}}’s {{vmcsaprov|Credit Support Balance (VM)}} (adjusted to treat any scheduled but as yet uncompleted transfers as not having been made) <br>
:exceeds <br>
:(ii) the {{vmcsaprov|Transferee}}’s {{vmcsaprov|Exposure}}. <br>

Latest revision as of 15:26, 6 December 2021

2(b) Return Amount. If the Transferor demands a Return Amount at least equalling the Transferee’s Minimum Transfer Amount on a Valuation Date, the Transferee must transfer the specified Equivalent Credit Support (VM) with a Value of the Return Amount (VM) (rounded under Paragraph 11(c)(vi)(B)) to the Transferee and the Credit Support Balance (VM) will be proportionately reduced. The “Return Amount (VM)” is the amount by which the Value of the Transferor’s Credit Support Balance (VM) (adjusted for pending but unsettled transfers) exceeds the Transferee’s Exposure.

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