Template:Isda 3(c) comp: Difference between revisions
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Section {{isda92prov|3(c)}} was one of the bits of the {{1992ma}} that {{icds}} “got right” at the first time of asking. | Section {{isda92prov|3(c)}} was one of the bits of the {{1992ma}} that {{icds}} “got ''mostly'' right” at the first time of asking. But still, some bright sparks on [[The ’squad|the ’Squad]] took it upon themselves, in the {{2002ma}} to switch out reference to “{{{{{1}}}|Affiliate}}s” — which, I don’t know, might take in some distant half-bred cousin you don’t enormously care about and who doesn’t cast any real shadow on your [[creditworthiness]] — with {{{{{1}}}|Credit Support Provider}}s and {{{{{1}}}|Specified Entities}} who no doubt more keenly do, but this leads to just more fiddliness in the Schedule over-stuffed with fiddliness, since one must then go to the trouble of specifying, and then arguing with your counterparties about, who should count as a {{{{{1}}}|Specified Entity}} for this remote and rather vacuous purpose. | ||
Keeps the home fires burning in the hobbity shires where [[ISDA negotiator]]s make their homes, we suppose. | |||
Revision as of 17:09, 2 February 2022
Section 3(c) was one of the bits of the 1992 ISDA that ISDA’s crack drafting squad™ “got mostly right” at the first time of asking. But still, some bright sparks on the ’Squad took it upon themselves, in the 2002 ISDA to switch out reference to “{{{{{1}}}|Affiliate}}s” — which, I don’t know, might take in some distant half-bred cousin you don’t enormously care about and who doesn’t cast any real shadow on your creditworthiness — with {{{{{1}}}|Credit Support Provider}}s and {{{{{1}}}|Specified Entities}} who no doubt more keenly do, but this leads to just more fiddliness in the Schedule over-stuffed with fiddliness, since one must then go to the trouble of specifying, and then arguing with your counterparties about, who should count as a {{{{{1}}}|Specified Entity}} for this remote and rather vacuous purpose.
Keeps the home fires burning in the hobbity shires where ISDA negotiators make their homes, we suppose.