Template:Csa Valuation summ: Difference between revisions
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In the [[Modern CSA]]s the {{{{{1}}}Valuation Time}} is quite a lot looser. If you haven’t fiddled with it, the {{{{{1}}}Valuation Time}} is the {{{{{1}}}Valuation Agent}}’s normal time for calculating end-of-day valuations — which need not, therefore, be the actual end of the day — or any other commercially reasonable time “on the relevant day”. “Day”, not “date”, and not {{{{{1}}}Valuation Date}}, so it could still be the ''preceding'' day, but logically it doesn’t make a lot of sense (we think) to presume it could be ''afterwards''. | In the [[Modern CSA]]s the {{{{{1}}}Valuation Time}} is quite a lot looser. If you haven’t fiddled with it, the {{{{{1}}}Valuation Time}} is the {{{{{1}}}Valuation Agent}}’s normal time for calculating end-of-day valuations — which need not, therefore, be the actual end of the day — or any other commercially reasonable time “on the relevant day”. “Day”, not “date”, and not {{{{{1}}}Valuation Date}}, so it could still be the ''preceding'' day, but logically it doesn’t make a lot of sense (we think) to presume it could be ''afterwards''. | ||
====Valuation Percentage==== | |||
To be differentiated from an {{csaprov|Independent Amount}}, the {{{{{1}}}|Valuation Percentage}} is the [[haircut]] applied to the valuation of any assets posted as {{{{{1}}}|Credit Support}}. So it is a ''deduction'' in the value of credit support provided, whereas an {{{{{1}}}|Independent Amount}} is an ''addition'' to the [[mark-to-market]] exposure under a {{isdaprov|Transaction}}. | |||
====“Base Currency Equivalent of bid price”==== | ====“Base Currency Equivalent of bid price”==== | ||
It is not unknown to amend limb (ii) to include “the {{{{{1}}}|Base Currency Equivalent}} of the bid price obtained by the {{{{{1}}}Valuation Agent}} ''multiplied by the nominal amount of such security''”. | It is not unknown to amend limb (ii) to include “the {{{{{1}}}|Base Currency Equivalent}} of the bid price obtained by the {{{{{1}}}Valuation Agent}} ''multiplied by the nominal amount of such security''”. | ||