From The Jolly Contrarian
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1994 NY Law CSA
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1995 English Law CSA
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Governing Law
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New York
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England and Wales
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Collateral Transfer Model
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Pledge
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Outright title transfer
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{{{{{1}}}Eligible Collateral}}
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Cash, government securities, corporate bonds
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Cash, government securities, corporate bonds
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Owner of posted collateral
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Collateral Provider
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Collateral Receiver
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Holder of posted collateral
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Collateral Receiver
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Collateral Receiver
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Holder’s right to reuse collateral
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Rehypothecation by holder allowed if enabled in the CSA
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Unlimited (return obligation is “equivalent” securities only)
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