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Amwelladmin (talk | contribs) (Created page with "{{subst:Csa grace periods}}") |
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Those of ISDA credit support arrangements that are standalone {{isdaprov|Credit Support Document}}s | ====Grace periods==== | ||
Those of ISDA credit support arrangements that are standalone {{isdaprov|Credit Support Document}}s — the {{nycsa}}, {{nyvmcsa}} and the {{imcsd}}, but ''not'' the {{csa} and the {{vmcsa}} — bake in their own two {{{{{1}}}|Local Business Day}} [[grace period]] into their own customised Events of Default. | |||
The | The {{1995csa}} and {{2016csa}}, being Transactions, don’t need to and inherit the [[grace period]]s for the {{isdaprov|Events of Default}} in the {{isdama}}. | ||
That can, at the limit, create a dissonance for Americans and IM posters, as your CSA grace periods do not automatically track your ISDA ones. Two {{{{{1}}}|Local Business Day}}s is an {{isdaprov|LBD}} ''longer'' than the standard one LBD [[grace period]] in the {{2002ma}}, and an {{isdaprov|LBD}} ''shorter'' than the standard 3 {{isdaprov|LBD}} [[grace period]] baked into the {{1992ma}}. | |||
Which is nice. This is not a problem for the English law Credit Support Annexes that are {{isdaprov|Transactions}}. |