Other Interest Elections - VM CSA Provision

2016 ISDA Credit Support Annex (VM) (English law) A Jolly Contrarian owner’s manual™ Resources and navigation Resources Full wikitext | Nutshell wikitext Navigation 1 (Interpretation) | 2 (Credit Support Obligations) | 3 (Transfers, Calculations and Exchanges) | 4 (Dispute Resolution) | 5 (Title Transfer etc) | 6 (Default) | 7 (Representation) | 8 (Expenses) | 9 (Miscellaneous) | 10 (Definitions) | 11 (Elections and Variables) Index: Click ᐅ to expand: 2016 VM CSA 2018 CSD 1995 CSA Paragraph 11(g)(iii) in a Nutshell™ Use at your own risk, campers! Template:Nutshell 2016 CSA 11(g)(iii) view template Full text of Paragraph 11(g)(iii) 11(g) Distributions and Interest Amount (VM) (i) Interest Rate (VM). The “Interest Rate (VM)” in relation to each Eligible Currency specified above will be [SPECIFY]. (ii) Transfer of Interest Payment (VM) or application of Interest Amount (VM). Interest Transfer: [Applies/does not apply]. Interest Payment Netting: [Applies/does not apply]. Interest Adjustment: [Applies/does not apply]. For the purposes of Paragraph 5(c)(ii)(B), the Credit Support Balance (VM) will be adjusted by the Transferee on or prior to the third Local Business Day of the following calendar month. (iii) Other Interest Elections. Negative Interest: [Applies/does not apply]. Daily Interest Compounding: [Applies/does not apply]. (iv) Alternative to Interest Amount (VM). The provisions of Paragraph 5(c)(ii) will apply. view template Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

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Summary

You can have all kinds of conceptual fun and games — all to no real practical end — if Negative Interest applies, because the Interest Payer VM in that case might be the Transferor or the Transferee, depending on the currency.

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