Template:Nutshell 2016 CSA 1: Difference between revisions
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{{vmcsaprov|1}} {{vmcsaprov|Interpretation}} <br> | {{vmcsaprov|1}} '''{{vmcsaprov|Interpretation}}''' <br> | ||
{{Nutshell 2016 CSA 1(a)}} | {{Nutshell 2016 CSA 1(a)}} | ||
{{Nutshell 2016 CSA 1(b)}} | {{Nutshell 2016 CSA 1(b)}} | ||
Latest revision as of 15:25, 1 January 2020
1 Interpretation
1(a) Definitions and Inconsistency. Capitalised terms not otherwise defined are defined in Paragraph 10. This Annex prevails over the Schedule, and Paragraph 11 prevails over the rest of this Annex. “Transfer” means, for cash, payment and, otherwise, delivery.
1(b) Scope of this Annex and the Other CSA: Only Covered Transactions specified in Paragraph 11 will count towards “Exposure” under this Annex. Any Other CSA is therefore amended to exclude the Covered Transactions (and this Annex itself) from its “Exposure” calculation. Except where Credit Support Offsets applies, this Annex will not affect the parties’ initial margin obligations on Covered Transactions documented under any Other CSA.