Template:M summ GMSLA 5.8

Deliciously straightforward, though rendered in the baroque curlicues of the ICMA’s crack drafting squad™. Get your call in on time, and you shall have your Collateral by the end of the day. Be late, and you get it tomorrow or, if a weekend, Monday.

Expect to see — or at any rate do not be surprised if you do — a range of different cut-off times for different currencies (generally in the afternoon; European currencies early, American ones late, and Asian currencies in the morning), and some contorted brain-bender for non-cash collateral referring to standard settlement cycles and so on.