Template:M summ GMRA 2000 6(j): Difference between revisions
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Clause {{gmraprov|6(j)}} is the {{gmra}}'s version of the {{isdama}}’s Section 2(a)(iii): it is a [[flawed asset]] provision, though in an agreement without any particular need for one. Unlike the ISDA’s version, it's toggle-able, suggesting the framers of the {{gmra}} were somewhat embarrassed to include it. Rightly, because a [[flawed asset]] clause doesn’t make a colossal amount of sense in an intrinsically margined, callable transactions like a [[repo]] agreement. | Clause {{gmraprov|6(j)}} is the {{gmra}}'s version of the {{isdama}}’s Section 2(a)(iii): it is a [[flawed asset]] provision, though in an agreement without any particular need for one. Unlike the ISDA’s version, it's toggle-able, suggesting the framers of the {{gmra}} were somewhat embarrassed to include it. Rightly, because a [[flawed asset]] clause doesn’t make a colossal amount of sense in an intrinsically margined, callable transactions like a [[repo]] agreement. | ||
Latest revision as of 15:26, 23 February 2020
Clause 6(j) is the Global Master Repurchase Agreement's version of the ISDA Master Agreement’s Section 2(a)(iii): it is a flawed asset provision, though in an agreement without any particular need for one. Unlike the ISDA’s version, it's toggle-able, suggesting the framers of the Global Master Repurchase Agreement were somewhat embarrassed to include it. Rightly, because a flawed asset clause doesn’t make a colossal amount of sense in an intrinsically margined, callable transactions like a repo agreement.