Base Currency - GMSLA Provision: Difference between revisions

Latest revision as of 11:18, 15 April 2020

2010 Global Master Securities Lending Agreement
A Jolly Contrarian owner’s manual™

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Section Base Currency in a Nutshell™

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Base Currency is specified in paragraph 2 of the Schedule; view template

Full text of Section Base Currency

Base Currency means the currency indicated in paragraph Schedule 2 of the Schedule; view template

Related agreements and comparisons

Related agreements: Click here for the same clause in the 2018 Pledge GMSLA Related agreements: Click here for the same clause in the 1995 OSLA Comparison: Template:Gmsladiff Base Currency Comparison: Template:Osladiff Base Currency

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You need a Base Currency to:

Calculate prices, sums or values needed to margin your portfolio (e.g. to arrive at a Market Value and Required Collateral Value) for assets not in the Base Currency (Clause 2.4)
Convert otherwise-denominated sums into the Base Currency when closing out (Clause 11.2)

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