Template:M summ Credit Derivatives 4.2: Difference between revisions
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[[4.2 - Credit Derivatives Provision|Differences]] with Section {{isdaprov|5(a)(vii)}}: | [[4.2 - Credit Derivatives Provision|Differences]] with Section {{isdaprov|5(a)(vii)}}: | ||
*Doesn’t cover [[ | *Doesn’t cover {{isdaprov|Credit Support Provider}}s or {{isdaprov|Specified Entities}} (being a specific type of credit mitigant to a private [[OTC]] bilateral trading agreement, like an {{isdama}} which, being a private contract is not naturally thee kind of thing that triggers [[credit derivative]]s) nor {{cddprov|guarantor}}s (but that is converted elsewhere, directly). | ||
*Simplified provision (d) which is less bothered about who institutes the proceedings, and less particular about the types of formal insolvency process one can go through, so is a bit more “[[fair large and liberal]]”. | *Simplified provision (d) which is less bothered about who institutes the proceedings, and less particular about the types of formal insolvency process one can go through, so is a bit more “[[fair large and liberal]]”. | ||
*No catch-all “or takes any steps in furtherance of the above” rider at the end to sweep up a loss of nerve or weirdo jurisdictions. | *No catch-all “or takes any steps in furtherance of the above” rider at the end to sweep up a loss of nerve or weirdo jurisdictions. | ||
Revision as of 11:27, 24 April 2023
Differences with Section 5(a)(vii):
- Doesn’t cover Credit Support Providers or Specified Entities (being a specific type of credit mitigant to a private OTC bilateral trading agreement, like an ISDA Master Agreement which, being a private contract is not naturally thee kind of thing that triggers credit derivatives) nor guarantors (but that is converted elsewhere, directly).
- Simplified provision (d) which is less bothered about who institutes the proceedings, and less particular about the types of formal insolvency process one can go through, so is a bit more “fair large and liberal”.
- No catch-all “or takes any steps in furtherance of the above” rider at the end to sweep up a loss of nerve or weirdo jurisdictions.